Singtel’s net profit falls 28% to $532m YoY in Q3

The company’s operating revenue likewise fell, declining 5.1% YoY.

Singtel recorded a 28% YoY lower net profit of $532m  in the third quarter that ended on 31 December 2022.

The company attributed the decline to a “net exceptional gain in the corresponding quarter last year.”

“The higher base of $734 million in the comparable quarter was due mainly to the partial divestment of Indara,” Singtel explained.

Apart from its net profit, Singtel’s operating revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) also declined during the quarter, dropping 5.1% and 8.0%, respectively.

Singtel attributed the declines to the “absence of contributions from Amobee and steep 8% decline in the Australian Dollar.”