Advertisement
Singapore markets close in 5 hours 49 minutes

  • Straits Times Index

    3,285.17
    -2.58 (-0.08%)
     

  • Nikkei

    37,780.35
    +151.87 (+0.40%)
     

  • Hang Seng

    17,575.99
    +291.45 (+1.69%)
     

  • FTSE 100

    8,078.86
    +38.48 (+0.48%)
     

  • Bitcoin USD

    64,419.06
    +184.92 (+0.29%)
     

  • CMC Crypto 200

    1,392.43
    +9.86 (+0.71%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Gold

    2,346.20
    +3.70 (+0.16%)
     

  • Crude Oil

    83.82
    +0.25 (+0.30%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • FTSE Bursa Malaysia

    1,573.43
    +4.18 (+0.27%)
     

  • Jakarta Composite Index

    7,121.30
    -33.99 (-0.48%)
     

  • PSE Index

    6,550.74
    -24.14 (-0.37%)
     

CORRECTED-Singtel posts first ever quarterly loss on Bharti charge

Reuters SG
Updated

(Corrects Q2 loss figure in the first paragraph to S$668 million from S$688 million)

Nov 14 (Reuters) - Singtel on Thursday posted a second-quarter loss of S$668 million ($491.29 million) hurt by a one-time charge recorded by India's Bharti Airtel.

Bharti Airtel said it made a provision of 284.50 billion ($3.99 billion) rupees after India's Supreme Court last month upheld a demand by the telecoms department that wireless carriers pay 920 billion rupees in overdue levies and interest.

Singtel, Southeast Asia's largest telecoms firm, reported a 3% rise in underlying net profit to S$737 million for the quarter.

ADVERTISEMENT

Singtel is the biggest shareholder in Bharti Airtel, with an effective stake of about 35%.

($1 = 1.3599 Singapore dollars) ($1 = 71.3500 Indian rupees) (Reporting by Devika Syamnath in Bengaluru; editing by Jason Neely)