Singtel buoyed by Airtel - Mobile World Live

Singtel buoyed by Airtel

16 FEB 2022

Singtel chief Yuen Kuan Moon cited Bharti Airtel as a bright spot in the Singaporean operator’s business during fiscal Q3 2022 (calendar Q4 2021), a period when revenue declined in its key markets but profit grew on a one-time gain.

The operator is the largest shareholder in Airtel, with Moon using Singtel’s earnings statement to note the Indian operator had demonstrated “a sustained profit turnaround with strong performances in both India and Africa” during the same calendar period.

Moon also highlighted continued momentum in Optus’ mobile business in Australia along with strong growth from its data centre services as enterprises accelerate their digital transformations.

Singtel’s net profit improved 23.8 per cent year-on-year to SGD734 million ($545.9 million), lifted by a SGD538 million gain on the sale of a 70 per cent stake in Australia Tower Network.

Revenue fell 7.7 per cent to SGD3.9 billion, attributed to lower equipment sales and a decline in National Broadband Network (NBN) migration revenue in Australia.

Profit contributions from its regional associates increased 13 per cent, with Airtel largely making up for weaker performances from Telkomsel in Indonesia and Globe Telecom in the Philippines.

Singapore mobile revenue fell 5.9 per cent to SGD507 million on lower equipment sales, though service revenue grew nearly 2 per cent to SGD286 million on increased adoption of higher ARPU 5G plans and a rise in roaming.

Post-paid subscribers rose 2.1 per cent to 2.8 million and prepaid fell 5.3 per cent to 1.3 million, with blended ARPU 1.2 per cent higher at SGD24 and average monthly data usage per subscriber up 14.3 per cent to 8GB.

Consumer turnover at Optus fell 11.4 per cent to AUD1.7 billion ($1.2 billion), with NBN migration revenue dropping from AUD72 million to AUD7 million.

Mobile revenue decreased 10.2 per cent to AUD1.3 billion, with lower equipment sales offsetting a 5.4 per cent rise in service revenue.

Post-paid subscribers grew 2.7 per cent to 5.9 million, pre-paid was flat at 3 million, blended ARPU rose 4.8 per cent to AUD31 and average data consumption 9.7 per cent to 12GB.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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