GPacket - significant increase in its earnings

It saw a significant increase in its earnings before interest, tax, depreciation and amortisation (EBITDA) for the second quarter ended June 30, 2013.

The mobile broadband services provider posted an EBITDA of RM9.4mil, which represents a 116% year-on-year increase for the period under review. Green Packet’s revenue for the second quarter, on the other hand, jumped 9% to RM151mil.

Green Packet’s operator pillar Packet One Networks (M) Sdn Bhd (P1) contributed RM73.8mil to group revenue, while Greenpacket Solutions, which provides connectivity device and solutions to operators globally, contributed RM35.2mil.

P1’s net subscriber addition for the second quarter was 12,000, with a cumulative total of 553,000. Meanwhile, Solutions’ shipped 153,630 units in the quarter, increasing by 48% quarter-on-quarter and 27% from the same period last year.

For the period under review, Green Packet saw its net loss widening to RM19.8mil from RM17.9mil in the previous second quarter. Consequently, its loss per share rose to 2.9 sen from 2.7 sen previously.