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Bharti Airtel`s share in SingTel Q2 profit rises 26%

SingTel has said Airtel’s contribution in which the co holds nearly 32% stake, to its profit rose by 26% to around USD 170mn for the July-Sept quarter.

Singapore/New Delhi: Singapore`s leading telecom firm SingTel today said contribution of Bharti Airtel, in which the company holds nearly 32 per cent stake, to its profit rose by 26% to 236 million Singapore dollars (around USD 170 million) for the July-September quarter.
SingTel posted a profit of 956 million Singapore dollars
for the quarter ended September, a growth 10.1 per cent
compared to the same period last year.

"The Group`s share of pre-tax contribution from Bharti
increased 26 per cent to 236 million Singapore dollars. The
growth was also due to lower fair value losses on mark-to-
market valuation on its foreign currency denominated
liabilities," SingTel said in a statement.

SingTel said Bharti Airtel added 33 million customers
during the quarter to take the total number of subscriber base
to 110.5 million as on September 30, 2009.

Although, operating revenue growth slowed to nine per
cent and revenue per user also dropped as a result of "intense
competition" and new players entering Indian mobile market.

SingTel`s consolidated revenue rose to 4.10 billion
Singapore dollars in the July to September quarter of 2009
from 3.89 billion Singapore dollars in the year-ago period.

The group`s overall good result is led by robust
performance in its Singapore and Australia businesses and
strong earnings recovery by Telkomsel, which provides cellular
services in Indonesia.

Bureau Report

From Zee News

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