Singtel associate earnings badgered by Airtel

Contributions from its Indian arm fell sharply by 60.2%.

Overall operating profits from Singtel's associates overseas fell slightly by 1.3%, due largely to Airtel which suffered a 60.2% decline in yields as it faces intense competition in India.

According to CIMB, AIS in Thailand and Globe in the Philippines also recorded declines in operating profit at 21.3% and 17%, respectively.

This was partly buffered by higher contributions from Indonesia's Telkomsel, which saw yields rise by 17.5%.

On a quarterly basis, associate earnings rose 2.5% due to Telkomsel (+3.5%) and full quarterly contribution from InTouch (+305%).

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