SingTel's Q1 profit down 17.4%
Bottom line hit by one-off items and weaker regional currencies
[SINGAPORE] South-east Asia's largest telco operator Singapore Telecommunications (SingTel) has posted a 17.4 per cent year- on-year slide in net profit to S$834.6 million for the first quarter ended June 30, hit by one-off items and translation effects from weaker regional currencies.
SingTel, which gets the majority of Ebitda (earnings before interest, tax, depreciation and amortisation) from outside Singapore, saw its bottom line under pressure as the Singapore dollar strengthened against currencies in markets where the group or its associates operate.
Revenue was down 3.4 per cent at about S$4.15 billion as the Australian dollar weakened 5.4 per cent year-on-year against the Singapore currency, although revenue would have been stable if currency fluctuations were stripped out.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Bitcoin faces worst month since FTX crash with ETF demand cooling
AIA launches wealth centre targeting high-net-worth clients
Prudential’s Q1 new business profit down 2% at S$743 million