Driven by special income, Singtel's net profit in the third quarter increased by 183.4% year-on-year to 1.319 million yuan.

According to the third quarter business report released by Xintel on Wednesday (February 19) for the end of last year, the special income mainly comes from the sale of some of Intouch and Indara's holdings, and the rise in fair value caused by Airtel's integration of Indus Towers net gains.

Driven by its Australian telecom operator Optus and information technology services company Enshixun (NCS), the group's core net profit in the third quarter rose 21.6% year-on-year to RMB 680 million.

Operating income and earnings before interest and tax (EBITDA) remained roughly the same, at RMB 3.629 billion and RMB 943 million, respectively.

New Telecom President Yuan Kunman pointed out that Aodus and Enxxon maintained strong performance, and the contribution of regional subsidiaries Airtel and AIS also improved. “Our performance over the past nine months, coupled with active capital management, has made good progress in our growth program, the 'Singtel28' strategy (ST28 for short).

Further reading

Xin Telecom's net profit fell 42.4% in the first half of the year and paid 7 minutes of interim dividend per share

Xin Telecom's net profit fell 42.4% in the first half of the year and paid 7 minutes of interim dividend per share

Xin Telecom's net profit rose 42.9% year-on-year to 690 million yuan

Xin Telecom's net profit rose 42.9% year-on-year to 690 million yuan

Yuan Kunman is also optimistic about Asia's long-term growth potential and continues to be optimistic about strong demand for digitalization and digital infrastructure. “We will seize the growth opportunities in the fields of artificial intelligence, data centers and global connectivity and continue to focus on improving business performance.”

The group's net profit in the first nine months decreased slightly by 2% from the previous fiscal year to RMB 2.55 billion, operating income remained the same as RMB 10.621 billion, and profit before interest and taxes increased by 6.2% to RMB 2.89 billion.

The Group expects to pay a dividend of 16.5 cents per share in the fiscal year ended March 31 this year. As of 11:20 a.m. Wednesday, Xin Telecom's share price was 3.37 yuan, up 1.2%.