SMRT's Q2 net profit down 2.2% to $33.3m due to higher train operating expenses

SMRT Corp said net profit fell 2.2% to $33.3 million for the second quarter ended Sept 30 from a year ago.

The rail, bus and taxi operator said the decline in net profit was due to higher MRT operating expenses and higher losses from buses.

Earnings per share for Q2 fell 2.3% to 2.2 cents. Q2 revenue increased 7.7% to $281.2 million, with the train business leading the growth.

An interim dividend of 1.50 cents per share has been declared, compared with 1.75 cents for the previous corresponding period.