Australia's Telstra profit slumps, flags up to A$1 bln impact from NBN rollout

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Aug 15 (Reuters) - Australia'sTelstra Corp reported a 40% drop in annual net profit on Thursday as its high-margin fixed line business shrunk and said its fiscal 2020 will be impacted by up to A$1 billion ($674.90 million) due to the rollout of government-owned National Broadband Network.

Net profit for the year ended June 30 fell to A$2.15 billion from A$3.59 billion a year earlier.

The country's largest telco said fiscal 2020 could be the "biggest in-year NBN headwind", with a negative impact of between A$800 million to A$1 billion.

($1 = 1.4817 Australian dollars)

This article appears in: Stocks , Fundamental Analysis , World Markets , Economy , Earnings

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