DTAC Q1 net profit flat, meets forecast | Bangkok Post: tech

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DTAC Q1 net profit flat, meets forecast

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Total Access Communication Plc (DTAC), the country's second-largest mobile operator, reported a 1% rise in quarterly net profit on Wednesday, in line with market expectations. 

DTAC, controlled by Norway's Telenor, posted a January-March net profit of 3.03 billion baht compared to 2.99 billion a year earlier.

Service revenue grew 9.1% from the same period last year and 2.6% from the fourth quarter of 2012 on the back of strong data revenue growth, the company said in a statement.

Total revenue grew strongly by 6.1% year-on-year but slightly lower than expected from the previous quarter due to lower handset sales.

Mobile internet continued its strong growth momentum, growing 84.7% year-on-year and 18.2% from the previous quarter due to continuing popularity of social network applications and increasingly affordable smartphones.

Earnings before interest, taxes, depreciation, and amortisation reached 7.5 billion baht, up 10.7% from the previous quarter and 10.3% from the same quarter last year, the company said.

Net profit reached 3.03 billion, growing by 17.7% on quarter despite the one-time transactions during the period.

Due to changes in prepaid active subscriber definition, total subscribers in the first quarter reached 26.6 million, increasing around 1 million from the existing subscriber base in addition to net additional subscribers of 290,299 in the quarter.

Shares of DTAC closed on the SET at 111 baht yesterday, up seven baht, in trade worth 1.09 billion baht.

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