Advertisement
Singapore markets open in 7 hours 16 minutes

  • Straits Times Index

    3,287.75
    -5.38 (-0.16%)
     

  • S&P 500

    5,042.90
    -28.73 (-0.57%)
     

  • Dow

    38,099.01
    -361.91 (-0.94%)
     

  • Nasdaq

    15,577.76
    -134.99 (-0.86%)
     

  • Bitcoin USD

    64,556.05
    -471.72 (-0.73%)
     

  • CMC Crypto 200

    1,392.65
    +10.08 (+0.73%)
     

  • FTSE 100

    8,078.86
    +38.48 (+0.48%)
     

  • Gold

    2,343.10
    +4.70 (+0.20%)
     

  • Crude Oil

    82.92
    +0.11 (+0.13%)
     

  • 10-Yr Bond

    4.7040
    +0.0520 (+1.12%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • FTSE Bursa Malaysia

    1,569.25
    -2.23 (-0.14%)
     

  • Jakarta Composite Index

    7,155.29
    -19.24 (-0.27%)
     

  • PSE Index

    6,574.88
    +2.13 (+0.03%)
     

Singtel posts first ever quarterly loss on Bharti charge

Reuters
Updated
A Singtel booth is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore

(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.

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

(Reporting by Devika Syamnath in Bengaluru; editing by Jason Neely)