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SingTel

Stock Chart
Last Done 3.270
Change -0.030 (-0.91%)
Volume 20,921.7
Range 3.250 - 3.290

Related News

Singtel Q1 profits plunge 35% on India price war

10 Aug 2019 09:00

By Annabeth Leow,,Fiona Lam

BHARTI Airtel's continual struggles in India, where the domestic telcos are engaged in a fierce price war, once again weighed heavily on the results of mainboard-listed Singtel, which on Thursday reported its lowest quarterly earnings since 2003.

Singtel's first quarter net profit plunged by 34.9 per cent to S$541.1 million, on the back of a 14.1 per cent drop in share of pre-tax profits from regional associates, including a wider S$162.2 million loss at Airtel.

Singtel also took a S$109.2 million one-off loss related to the listing of Airtel's Africa unit, though this was partly offset by a S$87.2 million gain from the dilution of Singtel's stake in Airtel following a rights issue in May.

If Airtel's results were excluded, the quarter's profit decline would have been a much milder 3.4 per cent, Singtel noted in its statement.


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Attachments: Source: Business Times
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