StarHub says net profit after tax grew 62% y-o-y to $69 million for the first quarter ended 31 March 2011.
Total operating revenue improved to $558 million while service revenue was higher at $531 million.
Mobile revenue increased 3% to $296 million, contributed mainly by a higher post-paid subscriber base and a higher post-paid ARPU. Post-paid mobile services revenue grew 5% to $231 million, accounting for 78% of the Mobile revenue mix. Post-paid ARPU increased $1 to $72, while pre-paid ARPU decreased $3 to $20.
Pay TV revenue decreased 10% to $92 million. The lower revenue was mainly due to the reduction in the Sports group’s monthly subscription price from $25 to $12 in June 2010 and a lower sports subscriber base post BPL. This also resulted in a lower Pay TV ARPU at $49. Customer base increased to 542,000 and the churn rate remained low at 1.1%.
Broadband revenue grew to $60 million. For the quarter, the $45 ARPU was primarily due to the higher mix of customers on lower speed price plans and promotional offers. The MaxOnline customer base increased 4% to 425,000.
Fixed Network revenue increased 5% to $84 million due to higher revenue from both Data & Internet and Voice services. Data & Internet services revenue, which contributes 84% to the Fixed Network revenue mix, grew to $70 million, while Voice services revenue grew to $13 million. This was primarily due to higher subscription of local voice services and increased interconnection revenue from international carriers.
The group’s EBITDA grew 35% to $160 million from $118 million previously. Profit before taxation was $86 million.
StarHub has declared a final dividend of 5 cents per share on a one-tier tax exempt basis in respect of the financial year ended 31 December 2010. The dividend will be paid on May 6.
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