Singtel's profits from Optus down 3.6%

Despite the rebound in service revenue.

Singtel recorded weaker earnings contribution from its Australian telco firm Optus.

According to CIMB, this is due to the higher depreciation and interest cost.

The profit fall came with the rebound in Optus' service revenue, up 2.2% from a 0.9% slip in the past quarter.

The improvement in service revenue was attributed to the higher national broadband network migration and consumer mobile service revenue.

CIMB analyst Foong Choong Chen said Optus' postpaid subscribers grew a decent 54,000 QoQ, whilst prepaid users went down by 18,000.

"Blended average revenue per user fell 2.9% yoy/qoq," the analyst said.

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