- Singtel's 2HFY25 results were within expectations. Revenue and underlying PATMI were 97%/99% of our FY25e forecast. The 12% y-o-y rise in underlying net profit to S$2.78bn was supported by a 48% rise in Optus EBIT and 48% growth in associate Bharti earnings.
- - Read this at SGinvestors.io -
- Operationally, mobile price repair and operating leverage are underway in Optus. Conversely, Singapore mobile remains under intense competition but is undertaking a significant realignment of costs.
- - Read this at SGinvestors.io -
The Positive
Strength in Optus Mobile.
- Optus mobile service revenues climbed 4.1% y-o-y in 2HFY25 to S$2.08bn. Growth rates are at their fastest in three years. Driving up revenue has been through price increases in postpaid, where ARPU rose 3.7% y-o-y.
- Optus EBIT jumped 48% y-o-y to S$192mil from operating leverage as depreciation declined.
Stellar growth in Bharti.
- Read more at SGinvestors.io.
