,Singapore

StarHub net profit drops 24.0% to $30.5m

StarHub recorded a net profit of $30.5m for the first quarter of 2021.

Telecommunications firm StarHub has had a challenging start to the year.

For the first quarter of 2021, it reported a 24% decline in net profit to $30.5m, attributing it to the impact of COVID-19.

"While the first quarter of 2021 remains challenging with ongoing travel restrictions and headwinds from the global pandemic, we reamined focused on our strategic and transformation objectives," said StarHub chief executive Nikhil Eapan in a press statement.

He added that deferred projects last year are being re-comitted for 2021 and beyond.

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