Australia’s biggest telecommunications provider has delivered bumper profit growth of more than 30 per cent, as it continues to drive down costs.
Telstra reported a bottom line net profit of $2.3 billion for 2024/25, up from $1.8 billion in the previous financial year, despite a tiny uptick in revenue to $23.1 billion.
However, the result was skewed by a significant one-off cost of $715 million booked in the prior period and linked to restructuring efforts in one of its businesses.
Underlying earnings rose almost five per cent to $8.6 billion, which was within its guidance range.
“We delivered our fourth consecutive year of underlying growth, reflecting momentum across our business, strong cost control and disciplined capital management,” chief executive Vicki Brady said in a statement.
Telstra’s mobile business drove most of the profit result, after generating revenue growth of 3.5 per cent.
“Trends indicate that demand for connectivity will only grow,” Ms Brady said.
“Our ambition is to be the number one choice for connectivity in Australia and to continue delivering on our purpose to build a connected future so that everyone can thrive.”
Telstra declared a final dividend of 9.5 cents, taking the total for the year to June 30 to 19 cents.
It also announced an on-market share buyback worth up to $1 billion as a reward to shareholders.
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