SINGAPORE: Singtel said on Thursday (Nov 10) its net profit fell 5.6 per cent to S$972 million in the second quarter, largely due to one-off gains recorded by mobile associate Airtel in the same period last year.
Net profit excluding exceptional items for the three months ended Sep 30 was stable, rising marginally by 0.4 per cent compared to a year ago.
Group revenue fell 2.3 per cent to S$4.28 billion, with revenue from its Australian unit hit by mandated reductions in mobile termination rates. Revenue from its consumer unit in Singapore fell 3 per cent, mainly due to cheaper Android handsets and a decline in equipment sales pending the release of new phones, the telco said.
Singtel CEO Chua Sock Koong said: “In spite of the more subdued economic and business environment, our Singapore business held its ground this quarter as we enhanced our customer propositions in both mobile data and cyber security.”
The telco has launched a review of its costs “to enhance our competitiveness and maintain revenue growth”, she added.
Singtel said its board has approved an interim dividend of 6.8 cents per share.
