What a calamity. Singtel share price looks set for a roller-coaster ride following a shocking 2nd quarter loss amounting to $674 million. Yes, that’s right. It is net loss of $674 million, vis-à-vis $661 million of net profit recorded in 2QFY2019. The mind-blowing loss was attributed to Airtel’s exceptional item.
The latest result came on the back of an eighth consecutive quarter of declining profits/losses. Question now is: where would Singtel share price go from here?
I have been a big fan of Singtel for years but I could not recall the last time in which Singtel recorded such massive losses. To be honest I am totally speechless by the latest results. Given the latest development, there is a high possibility of Singtel share price reaching my entry price of $2.60 in the coming days.
According to Singtel’s media release, the telco’s subsidiary, Airtel was hit by an adverse