Notably, Singtel’s associate in India, Bharti, contributed a pre-tax profit of $147 million instead of losses of $30 million a year ago. It had previously been weighed down by years by stiff competition and other market-specific factors.
Recent earnings reports from Singapore Telecommunications (Singtel) and StarHub have given investors some optimism that prospects for the sector are looking brighter. Besides braving through the worst of the pandemic, the telcos have also put in place new strategies, sharpened their focus on new priorities and are undergoing active capital management.
On Nov 18, Singtel reported earnings of $954 million for its 1HFY2022 ended Sept 30. This is more than double that of $466.1 million in 1HFY2020, thanks to a boost from its share of results of associates and joint ventures that recorded a profit of $770.3 million, compared to a loss of $290.8 million a year ago.
