SingTel, Southeast Asia‘s largest telecom firm, said its underlying net profit for the full year ended March 31 was S$2.47 billion, up from S$2.26 billion a year earlier, but slightly below the Visible Alpha consensus estimate of S$2.56 billion.
Optus reported a 5.7% growth in full-year earnings due to improved core mobile performance.
Post-tax contributions from the company’s associates grew 13%, mainly driven by India’s Bharti Airtel, which nearly doubled its quarterly profit on higher tariffs and subscriber growth.
“Notwithstanding the company’s encouraging performance, macroeconomic and geopolitical uncertainties caused by volatility in tariff policies persist,” CEO Yuen Kuan Moon said in a statement.
While tariffs have no direct impact on the company’s business, which is primarily in services, the trade conflict could affect it indirectly through softer consumer and business sentiment, SingTel said. The telecoms firm expects earnings before interest and taxes (EBIT), excluding contributions from associates, to grow in high-single digits in fiscal 2026. Its EBIT grew 20% in fiscal year 2025. After selling a 1.2% stake in Airtel for S$2 billion last week, SingTel said it has surpassed half of its S$6 billion mid-term asset recycling target and has now raised the goal to S$9 billion.
“The progress we’ve made in our ongoing capital management puts us in a position to return more to shareholders,” CEO Moon said.
The company declared a final dividend of 10 Singapore cents per share, higher than 9.8 cents declared last year.
($1 = 1.2899 Singapore dollars)
