Chorus, the former network arm of Telecom, has reported a maiden profit of $102 million.
Chorus was separated from Telecom's retail arm at the end of last year, becoming a stand-alone listed company.
It's taking a leading role in rolling out ultra fast broadband in urban areas and the broadband upgrade in rural areas.
Excluding a one-off insurance payment, Chorus's seven-month profit was $94 million.
The company said total fixed line connections remained flat at 1.8 million, but it added 50,000 broadband connections.