Singapore's Singtel posts first ever quarterly loss because of Airtel

Singapore Telecommunications (Singtel) on Thursday posted its first-ever quarterly loss hurt by a one-time charge recorded by Bharti Airtel. Singtel is the biggest shareholder in Airtel, with an effective stake of about 35%. It made a provision in its books for the unprofitable Indian carrier and posted a net loss of S$668 million (₹3,530 crore) for the September quarter.