Bharti Airtel

Flash: Singtel reports 35% lower 1Q earnings of $541 mil

SINGAPORE (Aug 8): Singtel reported 1Q earnings ended June of $541 million, or 3.32 cents per share, 35% lower than the $832 million a year ago.

Singtel says the weaker 1Q bottomline was due to losses suffered by its Indian associate Bharti Airtel and higher depreciation and amortisation costs of $644.3 million.

1Q operating revenue rose 2% to $4.11 billion on growth in consumer Australia and the group’s digital businesses which continued to scale.

More to follow after results briefing this morning.

The US$84 bil dilemma vexing India's three telecom tycoons

(June 20): After racking up US$59 billion ($80.2 billion) of net debt to survive a brutal war in the world’s second-biggest phone-services market, some of India’s billionaires are bracing for more as their next battle looms: 5G.

India seeks to raise US$84 billion this year from a sale of airwaves -- most of it for the new technology tipped to revolutionise connectivity. That’s posing a conundrum for the carriers controlled by tycoons including Mukesh Ambani, Asia’s wealthiest man. Investment would mean more borrowings, but the reward could be revenue streams never seen before.

GIC has Singtel's back in Bharti Airtel rights issue

SINGAPORE (Mar 11): GIC, Singapore’s sovereign wealth fund, is making a concerted effort to help Singapore Telecommunications (Singtel), the largest government-linked company, maintain the city state’s hold on India’s Bharti Airtel, which is tapping investors for fresh funds of US$3.5 billion ($4.75 billion) so that it can continue to wage a brutal price war in the Indian mobile market.

Analysts stand ground on Singtel amid Bharti Airtel rights issue

SINGAPORE (Mar 11): Analysts are keeping their recommendations on Singapore Telecommunications (Singtel) – for now – after the telco announced it is subscribing for approximately US$525 million ($713.3 million), or 15%, of Bharti Airtel’s US$3.5 billion rights issuance.

The fund raising plan is aimed at cutting debt and shoring up Airtel’s balance sheet as the Indian telecom industry reels from the impact of a price war triggered by the entry of Reliance Jio Infocomm.

Singtel to buy US$525 mil worth of stock in India's Bharti Airtel

(Mar 7): Singapore Telecommunications (Singtel) said it will buy roughly US$525 million ($712.4 million) worth Bharti Airtel stock as part of the Indian telecoms operator's plan to raise US$4.6 billion through new shares and bonds.

The fund raising plan, announced last month, is aimed at cutting debt and shoring up Bharti Airtel's balance sheet as the Indian telecom industry reels from the impact of a price war triggered by the entry of Reliance Jio Infocomm.

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-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.

Why Singtel is CGS-CIMB preferred telco pick

SINGAPORE (June 18): CGS-CIMB Securities is maintaining its “add” call on Singtel with a target price of $3.90. Singtel is also the research house’s preferred Singapore telco pick.

This came on the back of the group hosting its annual Investor Day on June 13.

During the event, the group highlighted that Telkomsel plans to reduce data quota by betweenn 1GB and 3GB for new SIM cards and raise the price of reloads by 5-10% from early July. It has already started removing channel incentives for starter pack sales.

Bharti unit to merge with Indus, creating US$14.6 bil firm

MUMBAI (Apr 25): Bharti Airtel agreed to merge a unit with closely held Indus Towers in a deal that creates a US$14.6 billion ($19.4 billion) telecom tower operator that would be the largest outside China.

The combination with Bharti Infratel creates an entity controlling more than 163,000 towers across India, Airtel said in a statement Wednesday. Infratel said it agreed to pay 1,565 of its own shares for each Indus Tower share. In a separate filing, Airtel said it will “engage with potential investors for evaluating a strategic stake sale” in the new entity.

Singtel to see growth moderation from regional mobile associates: UOB

SINGAPORE (Apr 16): UOB Kay Hian is maintaining its “buy” call on Singapore Telecommunications (Singtel) with a target price of $4.35.

Singtel has been the least affected by the entrance of Singapore’s fourth mobile operator, TPG Telecom, as overseas business accounts for about 70% of its bottom line.

However, in Indonesia, 35%-owned Telkomsel’s revenue from legacy voice and SMS have succumbed to cannibalisation by data and competition from XL Axiata and Indosat.

Revenue from voice increased 8.7% y-o-y in 1H17, but declined by 7.2% y-o-y in 2H17.

Why investors should 'buy' Singtel in spite of rising competitive risks: RHB

SINGAPORE (Mar 15): RHB is reiterating its “buy” call on Singtel given its underperformance over the past year following its selldown.

RHB has also updated the target price to $4.10 to reflect a higher effective stake in Bharti Airtel.

The rerating comes after Singtel’s recent completion of its purchase of an additional 1.7% stake in Bharti Telecom for $539.4 million, which effectively raised its stake in the latter’s subsidiary Bharti Airtel to 39.5% from 38.6% previously.

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