- Singtel reported a 21% rise in first-quarter underlying net profit to $831 million for the three months ended June 30, compared to $686 million a year earlier, beating the Visible Alpha consensus estimate of $746.1 million.
- Reported net profit fell 71.6% year-on-year to $818 million due to the absence of prior-year exceptional gains of $2.2 billion from the Airtel stake sale and the Intouch-Gulf merger.
- Post-tax contributions from regional associates rose 16.1% to $543 million, primarily supported by gains from Bharti Airtel and Advanced Info Service (AIS).
- Operating revenue increased 4.9% to $3.56 billion, with strong growth from NCS and Digital InfraCo.
- Singtel Singapore's revenue fell 3.1% amid intense price competition, while Optus revenue declined 2.2% in constant currency.
- Shares in Singtel closed 0.46% lower at $4.29 on August 12.
Singtel's underlying net profit rose 21% to $831 million for the first quarter, driven by strong contributions from regional associates, particularly India's Bharti Airtel and Thailand's Advanced Info Service (AIS).12367
Post-tax contributions from regional associates increased 16.1% to $543 million, helping to offset a 3.1% decline in operating revenue in Singapore due to intense price competition.1011
The reported net profit of $818 million marked a 71.6% year-on-year drop, primarily due to exceptional gains of $2.2 billion from the previous year’s partial sale of Airtel and a merger that did not recur.45
Operating revenue for the quarter rose 4.9% year-on-year to $3.56 billion, with EBITDA increasing 8.7% to $1.08 billion and operating company EBIT up 10.4% to $462 million.89
NCS revenue grew 9.7% due to demand for digital resilience services, while Digital InfraCo revenue surged 18.9%, aided by data center contributions and growth in cloud services.
Despite these gains, Singtel Singapore's revenue fell 3.1%, with mobile service revenue declining 4% as average revenue per user decreased, although roaming revenue increased due to higher wholesale volumes.
At Optus, revenue rose 6.6% in Singapore-dollar terms but fell 2.2% in constant currency, as lower equipment sales offset growth in mobile service and enterprise revenue.
Shares in Singtel closed 0.46% down at $4.29 on August 12.12
“The profit beat the Visible Alpha consensus of $746.1 million, with regional associates Airtel and AIS contributing $543 million, up 16.1%. Operating revenue grew 4.9% to $3.56 billion, but Singtel Singapore's revenue fell 3.1% amid price competition.”
AsiaOne
