True loss widens on spectrum, forex costs

Thailand-based True Group booked a higher loss in Q1 due to greater foreign exchange losses and 5G spectrum costs.

Net loss of THB581.4 million ($18.4 million) was up from THB161 in Q1 2020, on revenue of THB35.4 billion, up 1.7 per cent.

Mobile service revenue was flat at THB19.9 billion and device sales were down 2.5 per cent to THB4.9 billion.

The company stated post-paid subscriber acquisition remained strong, with 1.6 million added for a total of 10.2 million. Prepaid declined 3.3 per cent to 21 million. Blended mobile ARPU was stable at THB213.

Broadband revenue increased 10.1 per cent to THB7.2 billion and pay-TV fell 1 per cent to THB2.59 billion.

The operator noted its digital unit continued to strengthen its competitive edge and ecosystem, with media platform TrueID reporting video views per month increased to 240 million from 141 million and content subscriptions grew 55.4 per cent to 435,000.

In the enterprise segment, True Digital Solutions connected more than 406,000 IoT endpoints and devices, up from 242,000.

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