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Singtel 3Q net profit falls 14% hurt by regional associates

Reuters
Reuters2/14/2019 07:00 AM GMT+08  • 2 min read
Singtel 3Q net profit falls 14% hurt by regional associates
SINGAPORE (Feb 14): Singapore Telecommunications on Thursday reported a 14% drop in third-quarter net profit, due partly to intense competition in India and the impact of network investments by regional associates, and forecast a small decline in full-yea
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SINGAPORE (Feb 14): Singapore Telecommunications on Thursday reported a 14% drop in third-quarter net profit, due partly to intense competition in India and the impact of network investments by regional associates, and forecast a small decline in full-year earnings.

Singtel, Southeast Asia's largest telecom operator, posted net profit of $823 million for the three months ended in December, compared with $959 million a year ago.

Underlying net profit, which excludes one-time items, fell 28% to $680 million, with its results also hurt by the rising shift from voice to data and margin erosion in traditional carriage services, the company said.

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