Telstra has delivered a 7.1 per cent increase in net profit after tax to $1.1 billion for the first half of its fiscal year 2025, driven by strong mobile customer growth and cost reduction initiatives.
The telco giant attracted 119,000 new mobile customers in the period while growing mobile services revenue by 3.1 per cent.
"These are a strong set of results, delivering a fourth consecutive year of first half underlying growth, reflecting momentum across our business, strong cost control and disciplined capital management," Telstra chief executive officer Vicki Brady said.
However, challenges remain in Telstra's enterprise division, which has seen significant restructuring.
The telco has cut its product portfolio by two-thirds and reorganised teams to improve customer service and operational efficiency.
The fixed enterprise business showed signs of improvement, with EBITDA growing by $25 million after implementing cost reductions and portfolio simplification measures.
Core fixed costs decreased by 4.8 per cent or $161 million.
The company has now reduced core fixed costs by $283 million since FY22 and remains on track to achieve its $350 million target by the end of FY25.
On the infrastructure front, Telstra announced plans to invest $800 million in its mobile network over the next four years to expand its 5G coverage.
Telstra has also partnered with Ericsson to upgrade its radio access network with next-generation technology.
Looking ahead, Telstra confirmed its T25 strategy remains on track, including growth ambitions in underlying earnings before tax, and per share, as well as return on invested capital.
The company's mobile network now reaches 99.7 per cent of Australia's population, covering an area more than double that of Optus's network and approximately three times the size of the Vodafone/TPG network.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
