Singtel may be picking up, despite Q2 horror
Underlying net profit is up 3.1%, with associates' showing in the tough markets of Indonesia and India levelling out
Singapore
THE headline number in Singtel's second-quarter results was ghastly, as the mainboard-listed telco posted an unprecedented quarterly loss for the three months to Sept 30. The counter lost S$0.12, or 3.64 per cent, to S$3.18 in the aftermath on Friday.
But even as Singtel grapples with the shock S$668 million loss on a one-time provision at Bharti Airtel, there was still cause for cheer when watchers peeked under the hood at associates' operating performance.
Although some analysts noted that Singtel's share price could be squeezed by sentiment in the near term, CGS-CIMB held onto its "add" rating and Citi maintained a "buy". Others like DBS and UOB Kay Hian have…
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