Singtel reports 6.6% lower 1Q earnings of S$832m

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SINGAPORE (Aug 8): Singtel posted 1Q19 earnings of S$831.5 million, down 6.6% y-o-y compared to S$889.8 million in restated 1Q18 earnings due to weaker results from Airtel and Telkomsel, reduced stake in NetLink NBN Trust, higher withholding taxes and adverse currency movements.

Operating revenue fell 0.5% to S$4.1 million from restated 1Q18 revenue of S$4.2 million due to lower contributions across all businesses with pay television as the exception.

Revenue from Singtel’s core businesses, comprising mainly Group Consumer and Group Enterprise, registered a lower S$4.1 billion compared S$4.2 billion in 1Q18... (Click here to read the full story)