Currency fluctuations have hit Singapore telco Singtel in the third quarter, despite expansion in the consumer, enterprise and digital life business groups driving a 1% revenue growth.
Revenues in the three months to 31 December 2015 hit S$4.5 million, representing 1% growth on the same quarter a year earlier. However, net profits dipped 1.7% during the third quarter.
In Singapore, the company’s residential pay-TV, fixed broadband and voice revenue were stable – with 424,000 subscribers to Singtel TV in Q3. As of 31 December 2015, 84% of broadband customers have made the transition to fibre.
During the quarter, Singtel TV continued to broaden its content offerings with the addition of new channels including Warner TV, and also increased the number of channels made available on Singtel TV Go App.
In January 2016, Singtel signed a partnership with Netflix to offer promotional subscriptions to customers as well as entered into an exclusive partnership with Viu, an online streaming service for Korean entertainment.
In Australia the mass market fixed operating revenue grew 5.5% from higher off-net revenue, driven mainly by an increase of 16,000 in the NBN broadband customer base and an increased take-up of Optus TV, the company said.
“Innovations and investments in our core Consumer and Enterprise businesses continued to deliver. We focused on giving customers the best mobile data and entertainment experience by offering a mix of flexible data plans and differentiated content. This has seen more mobile customers in Singapore and Australia trade up to higher-tier plans,” said Chua Sock Koong, CEO, Singtel Group.
In emerging markets – namely AIS in Thailand, Airtel in India, Africa and South Asia, Globe in the Philippines, and Telkomsel in Indonesia – mobile data remained the key growth driver for Singtel.