Singapore Telecommunications ( Singtel ) on Wednesday ( Nov 13 ) reported a 42 per cent slump in its first-half net profit due to the absence of a S$ 1.2 billion ( US$ 896.59 million ) gain it had logged through the merger of Telkomsel a year earlier.
The largest telecom company in Southeast Asia added that it anticipates a low-double-digit increase in its earnings before interest and tax ( EBIT ) for fiscal 2025.
Next year, Telkomsel, the Indonesian relate of Singtel, agreed to combine with its mother’s IndiHome bandwidth arm to grow into Indonesia’s set broadband market.
The top executive of the business outlined Singtel’s progress in using artificial intelligence ( AI ) and data centers to create revenue streams.
According to CEO Yuen Kuan Moon,” Both NCS and Nxera ( Singtel’s data center brand ) have a crucial role to play in advancing AI adoption in the region. We are continuing to invest in AI infrastructure and capabilities to better serve businesses and governments.”
” We will remain scaling NCS and building out Nxera’s information centres which will start businesses from mid-2025 to join increasing demand”, Moon added.
Singtel’s Australian unit Optus, currently embroiled in a legal battle with the country’s competition watchdog, reported operating revenue of A$ 4.02 billion ( US$ 2.62 billion ) during the six months, in line with A$ 4.02 billion reported a year ago.
The firm said net income for the six month ended on Sep 30 was S$ 1.23 billion, as compared to S$ 2.14 billion last year and missing a Visible Alpha measure of S$ 1.37 billion.
The company declared a seven-seven-seventh Singapore cent per share interval dividend, a higher income than the previous year’s$ 5.25.