Singtel-owned Optus has post a ~$60 million drop in quarterly net profit, notching $105 million versus $165 million the same time last year. The telco attributes lower NBN migration payments for the decline.
Earnings follow a slump in half-year results, with net profit down 20% YoY to $259 million.
An internal restructure has also seen staff numbers drop from 8,278 last year to 7,441.
[Optus]
For the quarter ending September 30, Optus post a 5% YoY jump in overall revenue to $2.1 billion, citing notable post-paid customer growth.
Amidst strong market competition, pre-paid handset customers plummeted 120,000. Mobile service revenue also dipped $943 million.
By contrast, post-paid mobile subscribers across Optus’ consumer and enterprise division jumped 93,500, whilst mobile broadband customers lift 26,000.
Like rival Telstra, Optus has also been stung ~$10 million in penalties, following an ACCC investigation into its direct third-party billing service.
Despite Lew’s remarks, Optus has also been combating a PR debacle, stemming from its poor streaming coverage of the soccer World Cup, culminating in broadcast being passed onto SBS.
Further information is available on Singtel’s website here.
