Karachi: Singapore’s SingTel, the parent company of Waird Tel, saw its net profit fall 9.6% in the December quarter to S$902 million ($717.1 million), despite a 2.7% increase in revenue.
The company blamed the decline on higher customer acquisition costs in Singapore, 3G rollout costs accrued by Bharti Airtel and weaker contributions from the other regional mobile affiliates it owns stakes in.
All told, the contribution from SingTel’s mobile affiliates – Airtel, Indonesia’s Telkomsel, the Philippines’ Globe Telecom, Thailand’s AIS, Bangladesh’s Warid and Pakistan’s PBTL – declined 7.9% to S$449 million.
Separately, SingTel revealed its total customer base including its mobile affiliates increased 13% year-on-year during the quarter to 433.5 million.
SingTel earned a revenue of S$4.83 billion for the quarter, with domestic revenue increasing 2.5% to S$1.67 billion.
Wholly-owned subsidiary Optus grew its revenue 1.5% to A$2.42 billion ($2.59 billion), or 2.8% in local currency to S$3.15 billion.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription