M1's Q1 earnings 1.8% higher at $41.2mil

M1 posted a 1.8% rise in earnings to $41.2 million for the first quarter ended March 31, 2013, (1Q13) compared to $40.4 million a year ago (1Q12).

This translates to earnings per share of 4.5 cents for the quarter, up from 4.4 cents the year before.

However, operating revenue for the same period fell 7.4% to $243 million from $262.5 million on 38.7% lower handset sales.

The total number of post-paid and pre-paid cellular customers inched up 1.5% to 2.05 million in the quarter.