Internet service provider TPG has posted a 34 per cent increase in revenue for the financial year ending 31 July. The ISP reported revenue of $970.9 million and earnings before interest, tax, depreciation and amortisation (EBITDA) of $363.7 million; up 24 per cent on the previous financial year.
Net profit after tax was up 15 per cent to $171.7 million, TPG reported.
TPG soft launched its first NBN plans in the final quarter of FY14, the ISP revealed. It is signing up NBN customers at the rate of 500-600 every week.
The ISP offering an off-contract unlimited NBN+home phone bundle for $69.99 at the NBN's entry level speed of 12/1 megabits including unlimited local and national calls and 100 international minutes per month
The ISP has also released its fibre-to-the-building (FTTB) plans. TPG is offering a FTTB plan over its own infrastructure with $0 setup and a download speed between 50Mbps and 100Mbps.
The FTTB plan costs $59.99 per month on an 18-month contract, including unlimited local and national calls and 100 minutes of international calls.
The Australian Competition and Consumer Commission revealed earlier this month that it wouldn't stop TPG from rolling out infrastructure to deliver FTTB services in apartment blocks.
However, the competition watchdog revealed it considering regulating the provision of the kinds of vectored VDSL services TPG is offering and the communications minister, Malcolm Turnbull, is consulting on new rules that would potentially force network operators that want to compete with National Broadband Network infrastructure to split their wholesale and retail operations.
TPG's FTTB rollout, which could reach up to 500,000 premises, has been the source of controversy because of its potential to compete with NBN Co's own rollout of infrastructure for superfast broadband services.
During the year TPG signed up 77,000 more home broadband customers, the company revealed. TPG now has 748,000 home broadband subscribers as well as 362 mobile subscribers
The acquisition in February of AAPT contributed underlying EBIDTA of $38.2 million, excluding integration costs of $5.1 m and acquisition related costs of $3.2 million.