Singtel posts 5.6 pct drop in Q1 profit

NetLink NBN Trust

11/08/2017 24:53

SINGAPORE, Aug 11 (Reuters) - Singapore Telecommunications 
Ltd  STEL.SI  on Friday reported a 5.6 percent drop in 
first-quarter net profit, hurt by exceptional items and lower 
contributions from India's Bharti Airtel Ltd  BRTI.NS , one of 
its regional associates. 
    Southeast Asia's largest telecom operator posted a net 
profit of S$892 million ($654 million) for the three months 
ended June, including one-off charges from workforce 
restructuring at its Australian subsidiary Optus, compared with 
S$944 million a year ago. 
    Underlying net profit, which excludes one-time items, fell 
3.5 percent. 
    Singtel said pre-tax profit contribution from Airtel, 
India's top telecoms operator, dropped 42 percent due to fierce 
competition.  urn:newsml:reuters.com:*:nL3N1KG3X0 
     Singtel said it maintained its outlook provided in May. The 
company had forecast consolidated revenue to grow by mid-single 
digits and earnings before interest, tax, depreciation and 
amortisation (EBITDA) by low single digits for the full year 
ending March 2018. 
    In July, Singtel listed its broadband unit NetLink NBN Trust 
 NETL.SI  in a $1.7 billion initial public offering, reducing 
its stake in the subsidiary to 24.99 percent.  urn:newsml:reuters.com:*:nL3N1KA2LC     
($1 = 1.3636 Singapore dollars) 
 
 (Reporting by Aradhana Aravindan; Editing by Himani Sarkar and 
Stephen Coates) 
 ((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters 
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net)) 
 
Keywords: SINGTEL RESULTS/