Singtel reports 13% growth in net profit

Singtel has reported a net profit of €602 million (S$942 million) for Q1 2015, an increase of 12.8% compared to the same period last year.

Its operating revenues increased 1.5% to €2.7 billion (S$4.21 billion) while EBITDA declined 1%.

The company’s mobile business generated revenue of €208 million (S$327 million) in the quarter, an increase from approximately €201 million (S$316 million) a year ago. Overall revenue from its Singapore business amounted to €390 million (S$611 million), a 6% increase from the year before.

As of June 2015, the operator registered over 4 million mobile subscribers, with LTE subscribers reaching 2 million, after a net addition of 134,000 LTE customers.

“The results reflect the strength and the resilience of Singtel’s core business, and that’s as a result of all measures that we have taken to invest in network, distribution and improving customer experience,” said Singtel’s CEO Chua Sock Koong. “Through these initiatives we’ve been able to capture the right demand for mobile data and digital services across the markets where we operate.”

In addition the operator posted a net exceptional gain of $47 million, with divestment gains from venture investments, including Airtel Africa’s tower assets. 

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