What a perfect storm for Singtel share price. Singtel share price is set to face reality once more as the telco announced a set of disastrous Q3FY2019 financial results which saw most business units reporting declining profits. Net profit declined 14% to $823 million due to increased competition in India. In my last article on Singtel share price, I predicted that this counter would enter 2019 in bad shape. Indeed, Singtel share price plunged to $2.86 on 3 January 2019 and only recently recovered to the $3.00 level. However, the recent financial results would likely roil Singtel share price again.
It appears to me that Singtel share price is set for a roller coaster ride as the Q3FY2019 results fall short of many analyst estimates. Most business units reported declining profits on year-on-year basis. To make matters worse, the latest results marked the fifth