Singapore’s largest local telecommunication company (“telco”), Singtel (SGX: Z74), has just released its fiscal 2021 first-half earnings report.
In a nutshell, the telco’s numbers continued to reflect the tough challenges caused by the COVID-19 pandemic.
At the group level, operating revenue declined by 10.6% year on year to S$7.4 billion, while operating profit fell by 20.7% year on year to S$1.5 billion.
Underlying net profit plunged by 36.6% year on year to S$837 million.
Investors may be interested to find out if Singtel may be turning the corner as the pandemic situation in Singapore and Australia is easing.
We delve into the various key divisions for the telco to provide some colour on how the group is coping, and whether it may be poised for a turnaround.
Weak Singapore consumer business
The Singapore consumer business continues to be weak as the division chalked up lower roaming and prepaid revenue.