SingTel says first quarter net profit up 3.2%

Singapore Telecom (SingTel) said on Tuesday its first quarter net profit rose 3.2 percent from a year ago, driven by improved earnings from some regional associates and gains from an asset sale.

Net profit in the three months to June was Sg$945 million ($759 million), up from Sg$916 million in the same period last year and higher than the Sg$919 million forecast by a Dow Jones Newswires poll of analysts.

Revenue totalled Sg$4.53 billion, down 1.6 percent from a year earlier, SingTel said in a statement.

Pre-tax profit from the firm's overseas associates climbed 2.4 percent to Sg$483 million, buoyed by strong earnings growth from Indonesia's Telkomsel and Thailand's AIS.

The gains however were eroded by the Singapore dollar's strength against weaker regional currencies, said SingTel, Southeast Asia's biggest telecom firm by revenue.

As part of its expansion beyond the small domestic market, SingTel also holds significant stakes in India's Bharti Airtel, Pakistan's Warid Telecom, Globe Telecom in the Philippines and Pacific Bangladesh Telecom.

Optus, SingTel's wholly owned Australian subsidiary, reported a 7.4 percent decline in underlying net profit to Aus$161 million, with operating revenue dropping 3.2 percent to Aus$2.24 billion also partly due to the weaker Australian dollar.

SingTel said it booked a one-time gain of Sg$119 million from the sale of its 3.98 percent stake in Taiwan's Far EasTone Telecommunications.

"The group delivered a resilient performance this quarter despite regional currency headwinds and operating challenges in India," said SingTel Group chief executive Chua Sock Koong.

"This reflected the strength of diversity of the group's operations. We are embracing the changes in our industry by strengthening our telco business and establishing new growth platforms in the digital space."

Bharti Airtel's pre-tax contribution to SingTel's overall profit fell 38 percent, partly due to a weaker Indian rupee, while that of Warid Telecom tumbled 49 percent.

Pre-tax profit contributions from Telkomsel, AIS and Globe Telecom however were up.

SingTel said its mobile customer base totalled 462 million as at June 30, up 11 percent from a year ago.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • From Space, Typhoon Maysak's Eye Looks Like a Black Hole (Photo)
    From Space, Typhoon Maysak's Eye Looks Like a Black Hole (Photo)

    It seemed like a black hole from a Sci-Fi movie," NASA astronaut Terry Virts wrote on Twitter. Virts and his fellow astronauts have been posting pictures of the typhoon, which is expected to hit the Philippines this weekend if it doesn't change course. "Commands respect even from space," wrote Samantha Cristoforetti, an Italian astronaut with the European Space Agency who launched into space with Virts in November. As of 11 a.m. EdT today (1500 GMT), the super typhoon was 223 miles (359 km) …

  • Muslim group calls for universal peace
    Muslim group calls for universal peace

    As predominantly Catholic Philippines and the rest of the Christian world observe the Holy Week, peace advocates like the Young Muslim Professionals Network (YMPN) are appealing to Filipinos of various creeds and persuasion to embrace the universal message of kindness, love and peace. The group issued the call as peace negotiations between the government and the Moro Islamic Liberation Front teeter due to the Mamasapano incident where members of the rebel group killed 44 police commandos on a …

  • Ex-WB exec pushes BBL passage
    Ex-WB exec pushes BBL passage

    A former World Bank official has warned of dire consequences for the Philippines if the proposed Bangsamoro Basic Law (BBL) is not passed into law. Nigel Roberts, former director on conflict, security and development, said that more conflict could occur without the BBL. “It takes about 15 years to get back to pre-conflict GDP growth rates, and 20 years for trade to recover,” Roberts said in his blog at the World Bank website. The World Bank estimated that economic losses amounted to $10 …

  • Despite typhoon, summer is here
    Despite typhoon, summer is here

    Super Typhoon Chedeng roared toward Luzon as the weather bureau announced the official start of summer in the country yesterday. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) announced yesterday the official start of the dry or summer season in the country due to the termination of the cold northeast monsoon. “The general public is advised to take precautionary measures to minimize heat stress and take note of the need in optimizing the daily use of …

  • Noy told: Just answer the questions
    Noy told: Just answer the questions

    Just answer the 20 questions. The Makabayan bloc of seven party-list representatives made this appeal to President Aquino yesterday after his spokesman claimed the Chief Executive has already answered most of the questions posed by the militant lawmakers regarding the Mamasapano incident. For instance, he said the President has not yet explained why he allowed then suspended Philippine National Police chief Director General Alan Purisima to take the lead in Oplan Exodus or the mission to …

  • DFA: Malaysia paying rent for Sabah
    DFA: Malaysia paying rent for Sabah

    Malaysia does not acknowledge the Philippine claim over Sabah but the Department of Foreign Affairs (DFA) maintained yesterday that the Malaysian government is paying rent for Sabah, indicating it rightfully belongs to the Philippines. The Malay Mail Online reported that Malaysian Foreign Minister Datuk Seri Anifah Aman said Malaysia has not and does not acknowledge the Philippine claim over Sabah when asked by media about the reported offer of the Philippine government to downgrade its Sabah …

  • 63 OFWs returning from Yemen
    63 OFWs returning from Yemen

    Sixty-three overseas Filipino workers (OFWs) are set to return home from war-torn Yemen, Labor Secretary Rosalinda Baldoz said yesterday. Baldoz said the licensed recruiters of the OFWs have assured the government of their immediate repatriation. Administrator Hans Cacdac of the Philippine Overseas Employment Administration has ordered the recruitment agencies to fulfill their obligation to bring home the OFWs. Baldoz called on Filipinos still in Yemen to avail themselves of the government’s …

  • Jinggoy gets furlough for shoulder checkup
    Jinggoy gets furlough for shoulder checkup

    Despite opposition from ombudsman lawyers, the Sandiganbayan yesterday granted detained Sen. Jinggoy Estrada’s request to undergo a medical checkup at the Cardinal Santos Memorial Hospital. Estrada was allowed to undergo a medical examination for pain in his left shoulder from 3 p.m. to 6 p.m. The senator was ordered to shoulder the expenses incurred by the Philippine National Police in  escorting him. In a pleading filed Monday with the anti-graft court’s Fifth Division, Estrada’s lawyers …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options