Japan's top mobile phone carrier NTT DoCoMo said Friday its profit more than doubled in the January-March quarter, helped by efforts to trim personnel expenses and marketing costs.
NTT DoCoMo Inc. reported a net profit of 114.7 billion yen ($1.1 billion) during the last quarter, compared to 53.6 billion yen in the same quarter a year earlier.
The company said it reduced personnel expenses by returning a proxy portion of public pension assets to the government.
A newly introduced charge plan helped reduce handset procurement costs and commissions paid to sales agents, contributing to lower operating expenses, DoCoMo said in a statement.
The cost-cutting effort offset the impact of call charge cuts amid fierce competition with its rival carriers.
Revenue in the latest quarter slipped to 1.190 trillion yen ($11.44 billion) from 1.191 trillion yen.
For the past fiscal year through March 2008, the company's profit rose 7.4 percent to 491.2 billion yen ($4.72 billion) from 457.3 billion yen a year earlier. Its revenue slipped 1.6 percent to 4.712 trillion yen ($45.31 billion) from 4.788 trillion yen.
For the current fiscal year, NTT DoCoMo projects a net profit of 503 billion yen ($4.84 billion) and revenue of 4.768 trillion yen ($45.85 billion).
Its earnings results are based on U.S. accounting standards.
Terms & Conditions
RSS Headlines
Fool UK