SMRT Trains' full-year net profit down 82.4% to S$7.5 million

SMRT Trains' full-year net profit is 82.4% less than the previous FY. It made $7.5 million in the financial year ending April 2024. The drop is mainly due to a one-time $40.8 million dividend from its Thomson-East Coast Line. Higher electricity and staff costs also weighed down profits. The gradual recovery in train ridership, as well as higher average fares and savings from continuous internal improvements helped prop up profits. SMRT will invest at least $10 million in the coming year to prioritise growth areas like artificial intelligence and data mining. Nadirah Zaidi reports.

[deschan]

Run by ex military personnels. Wat can u expect

[tophue]

Boohoo I’m not making enough profits from providing a necessary public service 😢😭

[AlexClarkcompany]

This year may be worse. Last year I lost a lot of money due to poor investing decisions that I would not have made if I hadn't been so concerned about my portfolio. I wasn't sure whether to continue investing or make mortgage payments. After selling my investments, I realized that the house needed more work than I anticipated. I'm not sure how long I can keep going like this

[tanpengjoo]

Better than lose money, actually those profit are being channelled into top management due to their high salaries that eat into revenue.

[channelsold]

raise the fares: or subscription with bundles might as well collab/combinations
200 hours(maximum time allowed in trains)
= $40 per week per riders
💡 💸 💰

[DMah-mx]

SG needs 7million population plus Johoreans from RTS to boost ridership and more fare raises! 🎉 加油吧

[mightymosping]

Looking forward to working from home more often after hearing this news.

[steventay]

Working from home reduced ridership.

Plus more repairs work? More new trains?

[terence]

Although electricity cost went from 100+minion to peak of 250 minion and now ~200 minion, your fare increases generate many many more minions

[Kizaoooable]

Public transport also talk ABT PNL very disappointing

[wshyangify]

So if it's currently 7 million, previously it was over 80 million?

[christopheryongmenglee]

C830 Must check the brakes so slowly in PSD sometimes underun or overrun

[dollarquantums]

Raise the fares only la, scared what?

[fhetfet]

this is what will happen when you have msians heading SG national agencies.

[syncout]

Public transit isn't supposed to make profit...

[xBlockchain]

Oh poor thing. U made less money boohoo