News
TELECOM & INTERNET | Staff Reporter, Singapore
view(s)

Singtel associates' profit share stumbled 14% to $420m

The declines were led by Bharti, Telkomsel, and Globe.

Singtel's 8% drop in profits in Q3 was due to the 14% decline in its associates’ net profit contribution to $420m.

DBS Equity Research said the declines were led by Bharti, Telkomsel, and Globe and a lower stake in Netlink Trust.

RHB Research added that the regional mobile associates fell for the second consecutive quarter by 16% with the key drags from Telkomsel (-11%) and Airtel (-53%), partly mitigated by Advanced Info Service (AIS) (+6%).

The prepaid registration exercise in Indonesia has also triggered a fresh round of aggression in Q3 as telcos take the opportunity to grab share.

"Over in India, competition remains intense, with the pressure on revenue/earnings further exacerbated by the cut in domestic interconnect usage charge (IUC), which took effect in October 2017," RHB said. 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.