SINGTEL’S net profit for the third quarter ended Dec 31 climbed 183.4 per cent to S$1.3 billion from S$465 million in the same period the year before.
This was mainly attributed to a net exceptional gain of S$639 million, compared to a net exceptional loss of S$94 million in the same period the previous year, said the telco giant in a business update on Wednesday (Feb 19).
For the quarter, exceptional gains were recorded from the disposal of partial stakes in its Thai associate Intouch and Indara, formerly known as Australia Tower Network, as well as its share of Airtel’s exceptional net gain.
Operating revenue rose 1 per cent on the year to S$3.6 billion, while the group’s earnings before interest, taxes, depreciation and amortisation (Ebitda) increased 0.9 per cent to S$943 million from S$935 million previously.
Underlying net profit rose 21.6 per cent to S$680 million from S$559 million, and was 22.7 per cent higher in constant currency terms.
Yuen Kuan Moon, Singtel group chief executive, said: “Optus and NCS maintained strong performances, and our regional associates Airtel and AIS delivered higher contributions.”
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
He added that the group “will stay focused on lifting business performance by capturing growth opportunities in artificial intelligence, data centres and global connectivity”.
For the first nine months, Singtel’s revenue remained stable at S$10.6 billion. Ebitda was up 6.2 per cent at S$2.9 billion from S$2.7 billion in the prior year, while net profit fell 2 per cent to S$2.55 billion from S$2.6 billion previously.
The decline in net profit was attributed to “a lower exceptional gain”. In the previous corresponding period, the telco giant’s net exceptional gain was lifted by a S$1.2 billion gain from the dilution of its equity interest in Telkomsel.
Taking into account the business performance to date, the group expects the growth rate for earnings before interest and taxes excluding contributions from its associates to be “in the high teens to low twenties” for FY2025. It was previously forecast to be “in the low double digits”.
Singtel expects to pay a total dividend of around S$0.165 per share for FY2025.
Shares of Singtel closed 0.3 per cent or S$0.01 higher at S$3.33 on Tuesday.
