- SingTel’s 3QFY25 (third quarter ended 31 Dec 2024) operating revenue and EBITDA remained stable, up 1% y-o-y, while EBIT increased by 6.2% y-o-y, benefitting from lower depreciation costs.
3QFY25 results broadly in-line.
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- Underlying net profit rose 22% y-o-y to S$680m or 23% y-o-y in constant currency. This growth was primarily driven by strong contributions from Optus, NCS, Airtel, and AIS.
- Net profit more than doubled to S$1.3b, due to a net exceptional gain (primarily from selling partial stakes in Intouch and Indara), compared to a loss recorded in the same quarter last year.
Optus continued to improve with healthy growth trajectory.
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- Singtel Singapore faced a 4.8% y-o-y revenue decline, impacted by competitive pricing in mobile services, but reported a 1.1% y-o-y EBITDA increase due to cost optimisation while EBIT was stable.
- NCS saw a 5.9% y-o-y increased in revenue, mainly from its Gov+ and Telco+ businesses, leading to 10% and 15% y-o-y growth in EBITDA and EBIT respectively.
- However, Digital InfraCo’s revenue dropped 6.4% y-o-y, causing a 51% y-o-y decline in EBIT and 21% decline in EBITDA, largely due to lower satellite deployment fees and higher expansion costs.
Encouraging new FY25 guidance.
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