Singtel reported on Thursday that net profit for its first quarter rose a marginal 0.3 percent to S$944 million($USD703 million) from the same period last year.
Overall, Singtel delivered a strong performance for the quarter, underpinned by its resilient core business and increased contributions from regional mobile associates. Mobile data services remained a key growth driver across the operations. Cyber security was another bright spot, as revenues grew on the back of last September’s Trustwave acquisition.
Operating revenue for the quarter fell 7% due to mandated cuts to mobile termination rates in Australia.
Strong performances by its subsidiaries in Indonesia and India, Telkomsel and Airtel saw pre-tax contributions from the regional associates increase 14% for the quarter to S$714 million. Telkomsel recorded strong growth across its voice, data and digital businesses and data customers now constitute almost half of its mobile customer base. In India, Airtel continued to strengthen its market leadership and accelerate its 4G network rollout – also delivering growth in data and voice services. In Thailand, AIS successfully acquired the 900MHz spectrum, securing continuity of its network leadership while Globe in the Philippines has entered into an agreement to acquire 50% of the telecom assets of San Miguel, including its 700MHz spectrum.
ICT was also a key performer as demand for cyber security services grew, with cyber security revenues of S$109 million for the quarter.
Chua Sock Koong, CEO, Singtel Group
Having invested extensively in 3G and 4G networks and services and with the rise of smartphone adoption, our associates were well-positioned to successfully drive data usage and customer growth. Across Singapore and Australia, our quality networks, differentiated content and flexible data pricing plans also helped us stand out from competitors.
