Singtel will be booking additional charges of $911 million from its equity share of its associate Bharti Airtel, which has been dogged by stiff competition and regulatory woes in recent years.
On July 29, Airtel reported it has made additional provisions for license fee and spectrum usage charges of some 107.4 billion rupees for the quarter to June 30. This was the result of an Indian court ruling on July 20.
In addition, Airtel recognised 67.1 billion rupees as exceptional tax charge arising from reassessment of the carrying amounts of deferred tax balances.
Besides its 31.9% share in Airtel, Singtel owns significant stakes in other regional mobile operators including Telkomsel, AIS and Globe.
The telco will report its own quarterly earnings next month.
As at 10.53am, Singtel shares dropped one cent to trade at $2.49.
