Singtel’s net profit inches up 0.3% to $944m

Mobile data services boosted profit.

On back of sound performances by its mobile data and cyber security services, Singtel’s net profit grew a measly 0.3% YoY to $944 million for the quarter ended 30 June 2016.

According to Singtel, mobile data services remained a key growth driver across all markets while cyber security was another bright spot as revenues climbed up $109 million for the quarter following the purchase in September last year of Trustwave Holdings, an information security company.

Singtel’s press release also said that the group’s post-tax earnings of regional mobile associates went up 19.2%.

“Strong performances by Telkomsel and Airtel saw pre-tax contributions from the regional associates increase 14% for the quarter to S$714 million. Telkomsel recorded strong growth across its voice, data and digital businesses and data customers now constitute almost half of its mobile customer base. In India, Airtel continued to strengthen its market leadership and accelerate its 4G network rollout – also delivering growth in data and voice services. In Thailand, AIS successfully acquired the 900MHz spectrum, securing continuity of its network leadership while Globe in the Philippines has entered into an agreement to acquire 50% of the telecom assets of San Miguel, including its 700MHz spectrum,” Singtel explained.

However, operating revenue for the quarter dipped 7% due to mandated cuts to mobile termination rates in Australia, it added.