Singtel’s income remains stable at $946m in Q4

Thanks to associates’ robust share results.

Propped up by a resilient core business and strong contributions from associates, Singtel’s net profit remained stable at $946m in Q4.

According to the company’s news release, mobile data was a key growth driver, particularly among the regional mobile associates, alongside cloud and cyber security services.

Moreover, Singtel asserts its profit would have inched up 4% in constant currency terms.

“Foreign currency movements against the Singapore dollar affected the Group’s net profit by 3% or S$27 million for the quarter,” the telco asserted.

Excluding Trustwave, Singtel’s newly acquired cyber security business, net profit for the quarter inched up 2% and 5% in reported and constant currency terms respectively.

Operating revenue for the quarter tumbled 6% in Q4 on back of lower mobile termination rates in Australia and reduced handset sales in Singapore.

“Mobile data was the bright spot. Our regional markets are now making their respective transitions from mobile telephony to mobile internet and harnessing the benefits of extensive investments in 3G and 4G networks and services,” commented Chua Sock Koong, Singtel Group CEO.

“We worked with our regional associates to navigate this shift from voice to data. In Singapore and Australia, our businesses were the first to launch innovative data add-on plans and zero-rated music services to meet customers’ increasing demands for OTT content services and data allowances, driving further data monetisation,” she added.

For the financial year, Singtel reports a 2% growth to $3.87b in net profit. In constant currency terms, this reflects a 4% climb.