Singapore Airlines Limited (C6L.SI) on Tuesday reported a lower profit for the third quarter despite revenue growth, mainly due to the absence of a one-off accounting gain recorded in the prior year.
Net profit for the quarter fell to S$505 million or 16 cents per share from S$1.626 billion or 51.8 cents per share previously. The company had recorded a non-cash gain of S$1.098 billion last year from the disposal of Vistara following the Air India-Vistara merger.
Operating profit climbed to S$791.9 million from S$628.9 million in the same quarter last year.
Revenue rose 5.5% year-on-year to S$5.506 billion from S$5.219 billion.
Revenue passenger-kilometres increased to 31,724.9 million from 31,552 million, while passenger load factor edged down to 86.9% from 87.1%.
The airline carried 7.15 million passengers during the quarter, up 2.2% from 6.99 million a year ago.
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