Optus has seen its net profit increase 33 per cent to $218 million and earnings before tax growing 11 per cent to $23 million in its second quarter financial results, ending September 30.
Operating revenue for the telco declined 5.4 per cent to $2.1 billion.
Cost saving initiatives at the telco managed to reduce operating expenses by $202 million and offset the continuing trend of both lower breakage and roaming revenues, and early termination fees.
Optus parent company, SingTel, stated a major part of its earnings come from outside of Singapore and that its operating performance was impacted by the strengthening of the Singaporean dollar.
The Australian dollar depreciated by 10 per cent year-on-year against the Singaporean dollar.
This impacted on the second quarter Group revenue declining 9 per cent to $S4.16 billion. Operating revenue also fell three per cent due a cautious business environment, SingTel stated.
In the six months to September 30, net profit rose 4 per cent to $S1.88 billion.
The telco saw a decline of 49,000 mobile customers and had a loss of 126,000 pre-paid subscribers, but picked up 77,000 new post-paid mobile customers.
It now has 1.38 million 4G subscribers, up 293,000 compared to the previous quarter. Overall mobile revenue for the quarter was down six per cent to $1.3 billion.
The telco is focusing on growing its 4G network to reach more than 70 per cent of the metro population by April next year, Optus chief country officer, Kevin Russell , said.
“With a multi-band 4G strategy that combines low-band 4G frequency for strong coverage with high-band spectrum for increased network capacity, Optus is positioning itself to meet customer needs for additional capacity and faster network speeds,” he said.