True Corporation reported second-quarter revenue of 33.8 billion baht, a slight year-on-year drop of 0.2%, though the company continued to see subscriber growth in its mobile, broadband and digital businesses.
The SET-listed integrated communication and digital solution provider's earnings before interest, taxes, depreciation and amortisation (Ebitda) surged 4.5% quarterly and 12.5% year-on-year to 14.7 billion baht.
Its operating profit before interest and tax climbed 10.1% quarterly and 35.4% year-on-year to 3.6 billion baht in the second quarter.
TrueMove H, the company's mobile business, saw an additional 488,700 net subscribers in the second quarter, which drove its service revenue up 1.2% quarterly to 20.2 billion baht.
The mobile division ended the second quarter with its total subscriber base expanding to 31.7 million.
TrueOnline, the company's internet broadband business, added 105,000 subscribers in the second quarter, which expanded its broadband subscriber base to 4.4 million.
Its broadband business saw revenue growth of 10% year-on-year and 2% quarterly to hit 7.3 billion baht in the second quarter following rising broadband demands for working and learning at home.
TrueVisions, the company's pay TV business, booked revenue of 2.4 billion baht in the second quarter, a marked drop from 2.6 billion baht in the same quarter a year before.
The firm said in its statement TrueVisions had been affected by the pandemic along with its clients in the hotel sector, with consumers being more prudent in terms of spending alongside fewer televised entertainment events.
The company indicated it was now sharpening its focus on the growth potential in the over-the-top (OTT) market and better monetising its range of international and local content through TrueVisions Now content streaming services.
TrueVisions subscribers stood at 3.7 million at the end of the second quarter.
True Digital Group continued to maintain solid growth in the second quarter with earnings from TrueID, its digital media platform, surging 77% year-on-year and 15% quarterly.
"Despite this challenging time with the new wave of Covid-19, our digitalisation and customer-oriented approaches have been key growth drivers for us," said Manat Manavutiveth, co-president of True Corporation.
"We carried on positive momentum with quality subscriber growth for all mobile, broadband and digital arms in the second quarter."
Yupa Leewongcharoen, chief financial officer of True Corporation, said the firm's efforts to optimise costs while maintaining revenue amid this difficult time paid off.
