Singtel's Q2 net profit falls 5.6% to S$972m

Singapore

SINGAPORE Telecommunications (Singtel) lowered its outlook for fiscal year 2017 from its May guidance, saying it expects operating revenue to fall by a low single digit and for a stable Ebitda (earnings before interest, tax, depreciation and amortisation) based on the first half earnings report card.

The telco had earlier - in May this year - guided in its outlook for group revenue and Ebitda to grow by low single digit.

First half's net profit was down 2.8 per cent at S$1.92 billion on the back of a nearly 5 per cent fall in operating revenue to S$8 billion, while Ebitda declined 2.5 per cent to S$2.5 billion. The six-month performance was impacted by heightened competition in Australia's mobile segment with the telco expe…