True Corporation reports its performance for the second quarter of 2024 with a total revenue of 51,091 million baht, a 4.4% increase compared to the same quarter last year. Specifically, service revenue, excluding network connection revenue, reached 41,529 million baht, up by 5.7%, leading to a net profit of 2,398 million baht driven by increased EBITDA, reduced depreciation costs, and investment cutting.
The number of mobile phone service users totaled 50.5 million, decreasing by 0.6 million from the previous quarter. However, the Average Revenue per User (ARPU) increased to 207 baht per month due to improved commission cost efficiency. Additionally, the Internet business had 3.7 million users, down by 0.12 million, with an increased average revenue per user per month of 520 baht attributed to the reduction in discounts and upgrading customers to higher-value packages.
True also highlights progress in modernizing signal towers, completing 7,400 signal towers, accounting for 42% of the modern network development plan and readiness for 5G support.
TLDR: True Corporation reports a 4.4% increase in total revenue in Q2 2024, driven by growth in service revenue and net profit. Mobile phone users decreased, but ARPU rose. Internet business users decreased, but ARPU increased due to discount reduction and customer package upgrades. Modernization of signal towers for 5G support is on track.
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