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Telstra slide weighs on a positive market reaction as the company is hoping to regain some of its lost market share.
In its financial results announced on Monday, the telco reported that it increased its results by 5pc to $32.7m, up from $24.8m in the previous financial year.
A significant number of Telstra mobile phone subscribers switched from the NBN in 2013 to the more expensive fibre-to-the-premises as NBN Co continued to build and improve its network, the company said in its financial results released on Monday.
While a loss of a fifth of the company's revenue means a net loss of $11m, Telstra said the overall decline was related to increased competition in services and a lower wholesale price per gigabyte.
Overall revenue was up 13pc to $26.5m with increased wireless and network operations. The company's cable and wireless business, which includes Telstra and other businesses, was up 7pc to $20.9m, and had also been hurt by lower network costs.
The loss of a quarter of Telstra's revenue of $21.4m was mainly due to a 20 per cent decline in profit driven by a $24.6m increase in the cost of capital. Telstra's net loss of $8.5m in the year-to-date period was down to a $8.7m loss in the three months to the end of March.
Telstra's losses are down from a $52.4m loss in 2013-14. The company's capital expenditure grew by $1.5m to $9.4m. The company was forced to cut its cost for capital from $19.4m to $18.1m as its debt held up.
The telco's results were less bad than in its Q2 results released last week.
Operating profit rose by 9pc to $18.3m, as the company made $6.9m in the full-year on the back of investment into infrastructure, a 4.5pc increase in workforce, and 바카라 $1m on its NBN upgrade programme.
However Telstra's Q2 financial results showed that network upgrades completed in the third quarter had not created enough "free" capacity to handle new customer demand.
The telco's cost of network upgrades had a $5.1m increase in Q3 to $9.2m, mainly due to capital expenditures. It had also increased the minimum network cost to $3.1m, 바카라 to keep costs at its high levels last year.
Telstra declined to provide comment on the changes to its financial results as they relate to this quarter's results.
