Singtel Q1 profit drops 7% on weaker results from Airtel, Telkomsel

 Earnings per share were 5.09 cents, down from the previous year's 5.45 cents.
Earnings per share were 5.09 cents, down from the previous year's 5.45 cents.PHOTO: ST FILE

SINGAPORE - Singtel on Wednesday (Aug 8) posted a nearly 7 per cent fall in its first quarter net profit to $832 million, on weaker profits from Airtel and Telkomsel - its regional associates in India and Indonesia - and its reduced economic interest in Netlink NBN Trust.

Revenue slipped 0.5 per cent to $4.13 billion for the quarter ended June 30, from $4.16 billion the year ago.

Earnings per share were 5.09 cents, down from the previous year's 5.45 cents.

No dividends have been recommended for this period.

Singtel group chief executive officer Chua Sock Koong said: "This quarter's results reflect the resilience of our core business against intense competition and increasing business headwinds.

"We start the year with 23 per cent of group revenue from ICT (information and communications technology) and digital businesses, and we expect contributions from these businesses to rise further as we continue to build capabilities in these new growth areas."