Warid sale hits SingTel Q4 bottom line

15 May 2013

Singapore Telecommunications (SingTel) has reported a 6.3% year-on-year drop in group revenues to SGD4.48 billion (USD3.61 billion) for its fiscal fourth quarter, ended 31 March 2013, on the back of a 5% decline in income from its Australian operations. EBITDA remained stable at SGD1.43 billion for the period, although net profits fell by 32.6% to SGD868 million, due to a one-off loss of SGD225 million relating to the sale of its stake in Warid Pakistan and an exceptional tax credit of SGD270 million in the year-ago period.

For the full year, SingTel reported revenues of SGD18.18 billion and EBITDA of SGD5.2 billion, representing a decline of 3.4% and 0.4% respectively. Net profits for the group meanwhile were SGD3.51 billion, compared to SGD3.99 billion a year earlier, whilst underlying net profit – which excludes exceptional items – fell by 1.8% y-o-y to SGD3.61 billion.

Singapore, Singtel Group