Updated: 05/15/2014 18:12

SingTel Q1 net profit rose 3.4% to $898.6m

SingTel Q1 net profit rose 3.4% to $898.6m

Singapore Telecommunications says its net profit rose 3.4 per cent on-year in the first quarter, with slight growth in its regional mobile associates despite depreciation in those currencies. 

Net profit for the quarter ended March 31st was $898.6 million.

Operating revenue was 4.13 billion, down 7.9 per cent from a year earlier. 

The company said net profit would have grown 13 per cent in constant currency terms, but depreciation of the Indonesian rupiah, Australian dollar and Indian rupee had hurt earnings. 

It said operating revenue would have fallen just one per cent if currency depreciation was factored in. 

SingTel said group consumer revenue fell 12 per cent overall, although its Singapore segment reported a 5 per cent rise in revenue due to growth in mobile and pay television. 

Its revenue from business and enterprise fell 3 per cent to $1.61 billion due to a competitive environment, while its operations in other businesses rose 73 per cent to $50 million due to momentum in mobile advertising.

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