Singtel's Q1 net profit down 5.6% on associates' woes

Excluding Airtel, net profit rises 3.4%; operating revenue climbs 8.3% to S$4.23 billion

Published Fri, Aug 11, 2017 · 09:50 PM

Singapore

CHALLENGING market conditions faced by associates, such as Airtel in India, pulled Singapore Telecommunications' (Singtel) first quarter net profit down 5.6 per cent to S$892 million from S$944 million one-year ago for the quarter ended June 30. Excluding Airtel, net profit increased by 3.4 per cent.

Operating revenue for the quarter was up 8.3 per cent to S$4.23 billion from S$3.91 billion one year ago with global digital and cybersecurity businesses contributing more than 9 per cent of revenue. The operating revenue was also boosted by the first time contribution from Turn, Inc which was acquired in April 2017. Turn operates both a data management platform and a demand-side platform for ad buyers and was acquired by Singtel's Amobee.

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