- SingTel (SGX:Z74) posted a flat 3QFY24 underlying NPAT with 9MFY24 net income trending at 70% of MIBG and 72% of street FY24 estimates.
3QFY24: Missing consensus but bright spots emerge
- - Read this at SGinvestors.io -
- Associates’ pre-tax contribution fell 8% y-o-y on Airtel (due to Africa FX depreciation) and Telkomsel softness.
- Reported 3QFY24 NPAT fell 13% y-o-y.
Softness in Singapore; limited Optus drag
- Singapore operations revenues/EBITDA declined -2%/-5% y-o-y due to softness in device sales and enterprise revenues while costs rose on inflationary pressures.
- - Read this at SGinvestors.io -
- NCS was also impressive with EBITDA up 47% y-o-y on a 4% revenue rise helped by cost optimization. NCS bookings remained firm in 3Q at S$0.7bn.
- Digital InfraCo revenues were up 16% y-o-y helped by data center growth but EBITDA was down 3% linked to business development investments.
Associates: Mixed bag & partial FX weakness
- Read more at SGinvestors.io.
