Strong Sing dollar keeps SingTel Q2 profit flat at $870m
In constant currency terms, net earnings rise 7%, operating revenue dips 2.7%
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[SINGAPORE] The heftier Singapore dollar sat down hard on SingTel's earnings for the second quarter, rendering its net profit flat at $870 million as adverse currency movements eroded contributions from Optus and its regional associates.
In the quarter ended Sept 30, the Australian dollar, Indian rupee and Indonesian rupiah - which collectively denominate a sizeable chunk of SingTel's income - each tumbled 10 per cent year on year against the Singapore dollar.
In constant currency terms, net profit grew 7 per cent. Underlying net profit, at $884 million, was flat but would have been up 5.9 per cent in constant currency terms.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
