Singtel reports H1 $345 million profit on back of Airtel improvement

Singapore: Singapore Telecommunications (Singtel) reported a net profit of SGD 466 million (USD 345 million) for the half-year that ended 30 September 2020 with help from the11 percent rise in pre-tax profits from regional associates including Bharti Airtel (Airtel).

Airtel had earlier reported its highest ever consolidated quarterly revenue of INR 25,785 crore (USD 3.46 billion), up 22 percent year on year, with mobile ARPU (average revenue per user) rising from INR 128 to INR 162 in Q2. Profit before tax was INR 567 crore (USD 76.1 million) for Q2 2020 versus a loss of INR 623 crore (USD 86.3 million) in Q2 2019. Net income for the quarter improved from a net loss of INR 23,045 crore (USD 3.09 billion) in 2019 to an INR 763 crore (USD 102 million) loss for 2020.