KT Skylife posted first-quarter consolidated revenue of 238.97 billion won and operating profit of 5.94 billion won. Revenue fell 1.6 percent from a year earlier, but operating profit rose 16.2 percent.

Skylife said on May 10 that first-quarter revenue slipped partly due to a downturn in the broadcasting and home shopping markets, lower content sales revenue at KT ENA and the wind-down of KT HCN’s appliance instalment business. It said operating profit rose as costs linked to revenue declined.

On a separate basis, revenue rose 2.2 percent to 173.27 billion won and operating profit fell 45 percent to 7.24 billion won.

An increase in telecoms revenue of 6.6 billion won outpaced a 3.3 billion won fall in broadcasting revenue, lifting overall service revenue. Operating profit fell, however, due to costs to secure subscribers for ipit TV launched last year and higher network usage fees as subscriber numbers grew.

KT Skylife said, "Synergy between ipit TV and bundled internet services led overall subscriber growth," and added, "Based on the successful settlement of ipit TV, we secured growth momentum for the wireline business."