3QFY2024 revenue rose by 2.1% y-o-y to $396.1 million as public transport services and other commercial services revenues rose. Public transport services saw revenue growth mainly from higher average fares and ridership for its rail operations. The higher revenue also includes higher other operating income but was partly offset by lower service fees for buses due to lower mileage and fuel indexation. Other commercial services revenue rose mainly from higher income from more digital screens for advertisements in 2024.
SBS Transit has reported a profit after tax of $18.2 million for the 3QFY2024 ended Sept 30, 1.7% higher y-o-y from lower tax expenses.
This brings the company’s 9MFY2024 profit after tax to $51.9 million, 1.5% lower y-o-y, as lower operating profit more than offset lower tax expenses.
