Keppel Telecommunications Q2 profit slumps 82%

Keppel Telecommunications & Transportation reported an 82 percent drop in third-quarter net profit, due to the absence of gain from a divestment made in quarter and the contributions from subsidiaries disposed.

keppel
Keppel.

Keppel Telecommunications & Transportation reported an 82 percent drop in third-quarter net profit, due to the absence of gain from a divestment made in quarter and the contributions from subsidiaries disposed.

Net profit attributable to shareholders decreased to S$12.8 million compared to s$69.9 million last year, company said in a statement on Tuesday.

During the quarter, one-off gains of S$55.8 million were recognised on the disposal of a subsidiary and adjustment for sale proceeds of data centres disposed, partly offset by impairment loss on fixed assets, the company said.

Revenue decreased 3.3 percent to about S$45 million in the three months ended September 30.

Shares of the company ended up 0.8 percent to S$1.2 on the Singapore Exchange.

keppel
Keppel.

Keppel Telecommunications & Transportation reported an 82 percent drop in third-quarter net profit, due to the absence of gain from a divestment made in quarter and the contributions from subsidiaries disposed.

Net profit attributable to shareholders decreased to S$12.8 million compared to s$69.9 million last year, company said in a statement on Tuesday.

During the quarter, one-off gains of S$55.8 million were recognised on the disposal of a subsidiary and adjustment for sale proceeds of data centres disposed, partly offset by impairment loss on fixed assets, the company said.

Revenue decreased 3.3 percent to about S$45 million in the three months ended September 30.

Shares of the company ended up 0.8 percent to S$1.2 on the Singapore Exchange.

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