TPG Telecom has reported a surge in net profit for the year ended December 31 from $163m to $559m. 

The company’s  stats released this week show it also saw revenue rise 2.3 per cent to $5.4bn and earnings before interest, tax, depreciation and amortisation increase 23.6 per cent to $2.1bn.

TPG has doubled its fixed wireless home internet customers over the last year, with CEO Inaki Berroeta saying that the service yields higher margins than NBN re-sale, and it aims to lure users to these services as its 5G network matures. 

Fixed wireless customers rose to 171,000 from the year-earlier 80,000, with TPG citing an uptick in home internet per-user margins.