Singtel’s first-half underlying profit rises 14%

Singtel said the increase was driven mainly by regional associates Airtel and AIS, and operating companies NCS and Optus. 

The post-tax contribution from regional associates, including India’s Bharti Airtel, Indonesia’s Telkomsel and Thailand’s AIS, rose 12 per cent to S$0.92 billion.

Bharti Airtel reported a 89 per cent jump in quarterly profit, as users upgraded to higher-margin 4G and 5G plans and on steady subscriber additions.

Meanwhile, Optus’ operating revenue rose 2 per cent helped by growth in its mobile postpaid plans and higher revenue from a regional network-sharing deal.

Singtel Group CEO Yuen Kuan Moon said its first half results “reflect the positive momentum across our diversified portfolio of businesses across the region”. 

“While the macroeconomic outlook remains challenging, and the Optus business faces uncertainty, our business and geographical diversity is lending stability to the group’s performance,” he said in a press release on Wednesday.