Singtel Group has reported its business update for the third quarter and nine months ended December 31, 2025, highlighting steady revenue growth, a sharp rise in net profit, and strong progress on its Singtel28 strategy focused on AI and digital infrastructure expansion.
Revenue and Profit Growth in Q3 FY26
Singtel posted operating revenue of S$3,663 million, increasing 0.9 percent year over year (2.1 percent in constant currency).
Key profitability highlights:
Underlying net profit: S$744 million, up 9.5 percent
Reported net profit: S$1.89 billion, up 43.5 percent
Profit growth was boosted by a S$1.15 billion exceptional gain from the partial sale of its stake in Airtel.
The performance reflects strong contributions from regional associates and continued execution of the company’s long-term transformation strategy.
Segment Performance Overview
Optus (Australia)
Optus generated S$1,867 million revenue, rising 0.6 percent (2.8 percent constant currency).
The business continues to invest in network resilience following the Triple Zero outage review.
NCS (Digital Services)
NCS delivered strong growth with revenue of S$811 million, up 9.4 percent, driven by demand across digital, cloud, and cybersecurity services.
Singtel Singapore
Domestic operations reported S$940 million revenue, down 3.7 percent, impacted by intense price competition and weaker roaming revenue.
Strong Contribution from Regional Associates
Regional telecom investments played a major role in profit growth.
Bharti Airtel ARPU rose to Rs. 259, supported by growth in smartphone data users.
Advanced Info Service reported an expanded customer base and strong quarterly performance.
ARPU Trends Across Markets
Average revenue per user showed mixed trends:
Singapore mobile: S$23 per month (down from S$24)
Optus postpaid mobile: A$50 (up from A$49)
Optus home broadband: A$78 (up from A$77)
Airtel India: Rs. 259 (up from Rs. 245)
These figures reflect pricing pressure in mature markets and steady monetization improvements in emerging markets.
Subscriber Highlights
Customer numbers remained stable across key markets:
Singapore mobile: 4.549 million subscribers
Optus mobile: 10.744 million subscribers
5.839 million postpaid
3.847 million prepaid
Optus home: 1.309 million customers
Singtel28 Strategy: Scaling AI and Digital Infrastructure
Singtel continues to execute its Singtel28 plan, aimed at strengthening core telecom operations while building new growth engines in digital infrastructure and AI.
Nxera and AI-Ready Data Centers
Nxera recently opened its largest AI-ready data center in Singapore and is expanding capacity across Asia to meet rising demand for AI and cloud infrastructure.
Strategic Acquisition of STT GDC
STT GDC was acquired in partnership with KKR to accelerate Singtel’s ability to capture opportunities in digitalization and AI-driven growth.
Asset Recycling Strategy
Singtel divested a 0.8 percent stake in Airtel in November 2025, raising S$1.50 billion and reducing its effective stake to 27.3 percent, reinforcing its capital recycling strategy.
Operational Efficiency and Capex Focus
Opex and EBITDA Growth
Operational discipline supported profitability:
NCS achieved 21 percent EBITDA growth
Digital InfraCo EBITDA rose 6.6 percent
Airtel Africa improved margins through cost control
Capex Priorities
Capital investment remains focused on:
Strengthening Optus network resilience
Expanding regional data centers
Scaling AI infrastructure capacity
Outlook
Singtel’s latest results underline its transition from a traditional telecom operator into a digital infrastructure and AI-driven technology group. With rising contributions from associates, expanding data center capacity, and continued asset recycling, the company is positioning itself to capture long-term growth in the AI and digital economy.
BABURAJAN KIZHAKEDATH
