Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Singapore’s SingTel has reported a 19% increase in net profit for its fiscal second quarter, due in part to the strong performance of its regional mobile associates.
SingTel’s profit increased to S$1.04 billion ($831.8 million). Group revenue grew 4% to S$4.31 billion.
Group consumer revenue increased 2%, with Singapore consumer revenue up 4%. Growth in the company’s domestic consumer operations was driven by home and fiber revenue.
Australia consumer revenue increased a more more modest 2%. Growing mobile data adoption helped Australian mobile data revenue climb 7%, with the company adding 60,000 mobile customers.
Group enterprise revenue increased 3% on the back of higher ICT managed services contract revenue from both Singapore and Australia. These include Singapore’s newly-launched cyber security offerings for APAC enterprise and government customers.
Pre-tax earnings from SingTel’s regional mobile associates meanwhile surged 26.2% to S$629 million, despite unfavorable foreign currency fluctuations. Excluding this effect, the associates’ pre-tax earnings would have grown 32.8%, and group net profit would be up 22%.
Looking ahead to the full year ending in March, SingTel has affirmed its guidance of stable consolidated revenue and group ebitda. But costs associated with the acquisition of digital marketing technology companies Kontera and Adconion are expected to impact the bottom line. Original post at Telecom Asia