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Singtel logs SG$954m net profit as India unit swings to profit

Singapore telecom operator banks on 5G to lift revenue for further growth

Singapore's Singtel said that its Indian unit Airtel has returned to profitability for the first time in 13 quarters thanks to growth in mobile users and 4G upgrades. (Photo by Keiichiro Asahara)

SINGAPORE -- Singapore Telecommunications doubled its net profit to more than $700 million in the sixth months through September, as its India unit turned around earlier losses.

Singtel, the largest telecom operator in Southeast Asia by market capitalization, said its regional associates showed "resilient performance" despite intense competition and a resurgence of COVID-19 in their respective markets. Its net profit for the half came in at 954 million Singapore dollars, compared with SG$466.1 million a year ago.

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