Currently, Singtel makes up 9% of my wife’s stock portfolio. On 8th August 2019, Singtel has released their 1QFY20 financial results. Singtel has posted a net profit of S$541 million that was down a whopping 35%. This was due to Airtel’s losses. There was no surprises that an associate losses can have a lot of impact on Singtel as 48% of Singtel’s net profit comes from its Regional Associates which consists of Airtel, AIS, Telkomsel and Globe.
If we put the negative news about Airtel aside, below are the positives from the rest of the associates:
Telkomsel in Indonesia posted an 18% increase in earnings on robust growth in data and digital services. In the Philippines, Globe saw strong data revenue growth from its mobile and broadband businesses.
Here are the financial highlights for Singtel’s Quarter Ended 30 June 2019.
In the quarter, Singtel paid S$735 million