GPacket ... May11

Green Packet Bhd is on track to achieve its EBITDA (earnings before interest, taxes, depreciation and amortisation) break-even target by end 2011.

For the first quarter of this year (Q1 2011), the group recorded a net loss of RM37.9mil, representing a 13% year-on-year decrease (compared with a net loss of RM43.5mil in the same period last year).

The group's revenue jumped 40% year-on-year to RM121.7mil (compared with RM86.8mil in the same period last year).

Total EBITDA losses decreased by 48% from RM29.8mil to RM15.4mil year-on-year.

As at March 31, the group's subsidiary and 4G operator Packet One Networks (M) Sdn Bhd (P1) has 1,009 sites covering about 46% of the population nationwide.

In Q1 2011, P1 added 31,000 subscribers to bring its base to 305,000 subscribers. P1's average revenue per user (ARPU) increased slightly to RM73 in Q1, from RM72 in the preceeding quarter, due to better take-up of higher value fixed wireless broadband packages.

The group is aiming to launch its LTE devices by the end of 2011, and service the China market with its LTE portfolio. With the highly anticipated adoption of LTE driven by the two largest markets in the world, namely China and India, P1 is looking to completely migrate to TD-LTE in 2014 or earlier.