Singtel returned to profit in its fiscal Q1 2021/2022 (ending 30 June), with growth driven by an improved performance in Australia, a turnaround at Bharti Airtel and rising ARPU in key markets.
In an earnings statement, group CEO Yuen Kuan Moon explained an easing of Covid-19 (coronavirus) restrictions improved the overall operating and business environment, spurring a return to growth across various sectors.
He explained a resurgence of the pandemic in many parts of Asia added to an already challenging environment, but Singtel remained “focused on investing in 5G and our digital capabilities which underpin our efforts to drive recovery and growth”.
Pre-tax profit at regional mobile units increased 38 per cent year-on-year to SGD514 million ($378.8 million). Airtel’s figure was SGD64 million, revering a loss of SGD66 million in fiscal Q1 2020/2021.
Net profit of SGD445 million compared with a loss of SGD20 million and operating revenue grew 7.4 per cent to SGD3.8 billion.
Mobile service revenue in Singapore declined 1.5 per cent to SGD279 million. Prepaid subscribers fell 12 per cent to 1.4 million and post-paid rose 2.3 per cent to 2.8 million.
Blended ARPU improved 2.2 per cent to SGD23.00. Data consumption increased 52.1 per cent to 8GB a month.
Australia service turnover grew 11.1 per cent to AUD913 million ($672.3 million). Prepaid subscribers fell 8.1 per cent to 2.97 million. Post-paid remained at 5.8 million.
Blended ARPU jumped 15.6 per cent to AUD31. Average monthly data usage rose 18.8 per cent to 12GB.
The company’s digital marketing arm Amobee registered 56 per cent growth in operating revenue to SGD236 million as a result of increased advertising spend.
Yuen said a strategic reset [1] announced in May positions it to capitalise on the rising trend of digitalisation to support post-pandemic economic recovery.
[1] https://www.mobileworldlive.com/asia/asia-news/singtel-profit-falls
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