Singtel’s annual profit plunges 65% on Bharti Airtel snag

(Reuters) - Singapore Telecommunications Ltd on Thursday said full-year net profit plummeted 65.2% as it faced tough competition in Australia and took a S$1.80 billion (1.04 billion pounds) hit related to its stake in Bharti Airtel Ltd's . Singtel, Southeast Asia's largest telco, reported net profit of S$1.07 billion for the year ended March, compared with S$3.10 billion a year earlier.

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