SingTel, StarHub post strong Q3 earnings growth
Singapore's two largest operators, SingTel and StarHub, both reported healthy earnings growth during the September quarter, with SingTel lifting its net profit 19%.
Incumbent SingTel recorded an underlying net profit of €457 million, from strong gains in its two main businesses.
Revenue from its Singaporean operations increased 8.2% to €692 million ( S$1.44b), while its Australian subsidiary Optus generated revenue of S$2.66 billion - a 4% increase, but a 7.4% increase in local currency.
These increases were spurred by strong growth in the mobile operations of both markets. Mobile revenue in Singapore grew 7.9% to S$384 million, with SingTel attracting 30,000 new postpaid subscribers during the quarter.
Optus boosted its mobile revenue 12% to A$1.38 billion ($1.28 billion), adding 223,000 mobile and wireless broadband subscribers.
SingTel's international affiliates contributed to 13.9% of the company's bottom line, up over two percentage points from the year before.
The associates – which include India's Bharti Airtel, Indonesia's Telkomsel and Thailand's AIS - kicked in a combined S$571 million, up 32% from a year ago.
StarHub meanwhile lifted its profit 7.1% to S$85.2 million during the same period, while its revenue increased 2.4%to $537.1 million.
Revenue from its mobile, pay TV and fixed network services operations all increased, with mobile intake growing 4.7% to S$276.8 million. But broadband revenue fell 6.1% to S$58.8 million.
The company increased its mobile subscriber base 8.1% to 1.85 million, its Pay TV customer base 2.9% to 535,000, and its broadband subscriber base 7.3% to 392,000.