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Wireless

Singtel's quarterly profit plunges 35% on Airtel losses

Thursday 8 August 2019 | 10:54 CET | News
Singapore operator Singtel reported net profit of SGD 541 million for its fiscal first quarter ended 30 June, which represents a decline of 35 percent. The profit drop was mainly due to Indian unit Airtel's losses and higher depreciation and amortisation costs in network and spectrum across the group. Excluding Airtel, net profit was down 3 percent, Singtel also said. Operating revenue grew 2 percent in constant currency terms to SGD 4.11 billion on growth at Optus in Australia and the group's digital businesses. 

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Categories: Mobile & Wireless
Companies: Airtel / SingTel
Countries: Asia / Singapore
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