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Singtel Q1 profit down 7% on weaker results from Airtel, Telkomsel

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Singtel on Wednesday posted a nearly 7 per cent fall in its first quarter net profit to S$832 million, on weaker profits from Airtel and Telkomsel - its regional associates in India and Indonesia - and its reduced economic interest in Netlink NBN Trust.

SINGTEL on Wednesday posted a nearly 7 per cent fall in its first quarter net profit to S$832 million, on weaker profits from Airtel and Telkomsel - its regional associates in India and Indonesia - and its reduced economic interest in Netlink NBN Trust.

Revenue slipped 0.5 per cent to S$4.13 billion for the quarter ended June 30 from S$4.16 billion the year ago.

Earnings per share were 5.09 Singapore cents, down from the previous year’s 5.45 cents.

No dividends have been recommended for this period.

Chua Sock Koong, Singtel group CEO, said: “This quarter’s results reflect the resilience of our core business against intense competition and increasing business headwinds.

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“We start the year with 23 per cent of group revenue from ICT and digital businesses and we expect contributions from these businesses to rise further as we continue to build capabilities in these new growth areas.”

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