TELECOM & INTERNET | Staff Reporter, Singapore

Singtel's profit down by 9% to $890m

Network subscribers are making less calls, pulling down earnings.

The net profit of Singapore Telecommunications (Singtel) for the third quarter ended last 31 December declined by 9% to $890m.

Singtel explained the decrease on profit was mainly caused by voice revenue declines, higher network depreciation and amortisation from increased infrastructure investments, and overall lower earnings from its associates including Airtel, Telkomsel, and Globe.

The company’s operating revenue for the quarter increased by 4% to $4.60b.

Meanwhile, Singtel reported 6% increase to its earnings before interest, taxes, depreciation and amortisation (EBITDA) with $1.29b driven by strong contributions from its core and digital businesses.

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.