Singtel Q4 profit falls 25.7% to S$574m

Annabeth Leow

Published Thu, May 28, 2020 · 12:33 AM

SINGAPORE Telecommunications (Singtel) posted a 25.7 per cent drop in net profit to S$574.4 million for its fourth quarter ended March 31, 2020 from S$773 million a year ago.

This came as the telco took a net exceptional charge of S$302 million for the quarter, mainly arising from key Indian associate Bharti Airtel's provision for a one-time spectrum charge, the mainboard-listed company said on Thursday.

Earnings per share stood at 3.52 Singapore cents for the quarter, down from 4.74 cents for the preceding year, while net asset value shrank to S$1.64 a share, from S$1.83 before.

Operating revenue for Q4 fell 10.2 per cent to S$3.90 billion, from S$4.34 billion a year earlier, which Singtel attributed to lower mobile service and equipment sales revenu…