Singtel Q2 profit dips; but analysts unfazed, maintain 'buy' calls

Singapore

ANALYSTS were largely unruffled by a marginal dip in second-quarter earnings for Singtel, keeping their "buy" calls on the telco as it ended trading flat at a price slightly beneath its end-2014 close.

Though mobile growth in Singapore slowed, the group's Optus unit in Australia has become more profitable and overall free cash flow in the quarter was strong, they said in reports. Singtel said on Thursday that net profit dipped 0.8 per cent to S$1.03 billion for the three months to Sept 30, weighed down by a softer Australian dollar which hurt the translated results from Optus in Australia.