SMRT's rail revenue up 5.6%; profit after tax almost doubles

SMRT, the Singapore-based rail operator, reported a significant increase in its financial performance for the financial year ending March 31, 2026. Profit after tax nearly doubled to $12.8 million, marking a substantial improvement from $6.9 million in the previous year. This resulted in a higher profit margin of 1.3%, up from 0.75% the previous year.

The margin's boost was attributed to cost management and energy contracts secured prior to the surge in energy prices following the Iran war, which had increased SMRT's energy costs by over 10%.

In terms of revenue, SMRT's rail operations generated $969.7 million, a notable 5.6% increase from the $918.2 million recorded in the prior year. This growth was primarily driven by higher ridership and fare revenue. Public transport fares saw a 5% increase from December 27, 2025, leading to a slight hike in journey costs, ranging from nine to ten cents extra depending on the distance traveled. However, this fare increase was somewhat mitigated by the operator's efforts in cost control and the energy contracts.

Beyond rail, SMRT has been diversifying its commercial, non-fare offerings. Strides Premier, a taxi service owned by SMRT, has seen growth in its limousine and specialized vehicle businesses. The company expanded its fleet with luxury Denza D9 electric vehicles for corporate clients and became an authorized repairer for Chinese brand vehicles.

Strides Premier also entered into a contract with SATS, an aviation ground handler, to maintain ground support equipment at airports and refurbish upper-deck catering trucks. Furthermore, SMRT's advertising unit, Stellar Ace, invested $4.5 million in digital panels for MRT stations, which can display advertisements and provide real-time information in case of service disruptions.

In a new initiative launched in May, selected charities with public character status can run advertising campaigns free of charge across SMRT’s network. This $1 million, three-year program received over 179 proposals from 700 IPCs, with 12 charities ultimately selected for the initiative.