Singapore: Singapore Telecommunications, Southeast Asia’s largest telecoms firm, said that third-quarter net profit fell 4.2% compared with a year earlier when it booked exceptional gains.
Net profit for the quarter ended 31December totalled $673 million compared with $994 million a year earlier, the company said.
Excluding exceptional items, underlying net profit grew 21.7% to $931 million, it said.
Revenue rose 11.4% to $3.8 billion, against $3.4 billion a year earlier, driven by 11% revenue growth in Singapore and an 8% appreciation of the Australian dollar, said Singapore Telecommunications (SingTel).
Wholly-owned Australian subsidiary SingTel Optus maintained profitability in a highly competitive market, SingTel said.
For the first nine months of SingTel’s financial year, revenue was 10.9% higher at $11.1 billion while net profit was $2.9 billion, up 2.8% year-on-year, the company said.
It said post-tax earnings from SingTel’s regional mobile associates grew 34% year-on-year to $492 million and accounted for 53% of the Group’s underlying net profit.
Indonesia’s Telkomsel, Bharti Telecom of India and Globe Telecom of the Philippines were the main drivers among associates, SingTel said.
“The Group continued its impressive growth momentum and delivered its third consecutive quarter of double-digit revenue growth,” said Chua Sock Koong, the company’s group chief executive officer.