KUALA LUMPUR (Nov 28): Green Packet Bhd said it posted an earnings before interest, taxes, depreciation, and amortisation (Ebitda) of RM9.2 million in the third quarter (3Q) ended Sept 30, 2012, up 527% year-on-year.

Green Packet registered a negative Ebitda of RM2.2 million in the corresponding quarter of 2011.

“A key reason to the increase in Ebitda is the increase in subscriber base for the Broadband business,” Green Packet general manager Kelvin Lee said at a press conference today.

The total subscriber base for P1’s latest broadband plans and services increased by 38,000, Lee said. Hence, the cumulative number of subscribers as at September reached 505,000.

“This exceeded the expectation of 500,000 total subscribers by year-end,” added Lee.

Revenue for 3Q also rose 19% to RM159.8 million. For the corresponding quarter in 2011, revenue stood at RM134.4 million.

The group’s P1 pillar contributed RM82 million to the group’s revenue, and also registered a positive Ebitda of RM8.4 million.

The solutions pillar posted revenues of RM41 million, while registering a positive Ebitda of RM100,000.

Moving forward, CEO and managing director Puan Chan Cheong said: “Since 2008, Green Packet and P1 have been working tirelessly to shape the 4G broadband industry with WiMAX products and services. Now, we will join the ranks of the highest decision making board in TD-LTE technology.”

“We will steer the TD-LTE ecosystem as a major standard in mobile broadband technology and drive early development of next generation mobile broadband networks,” he added.