SINGAPORE -- Singapore Telecommunications is pinning its hopes on the Indian mobile market, the company chief executive said on Thursday, despite facing a price war there that dragged down its profit for the last quarter of 2017.
Singtel said net profit for the October-December quarter dropped 8.5% from a year ago to 890 million Singapore dollars ($670 million). This is mainly due to intense price competition faced by its Indian associate Bharti Airtel, one of the major mobile telecom providers in India. Profit before tax from Airtel for the quarter dropped 73% on the year, Singtel said.
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