SingTel Q3 net profit rises on strength of regional affiliates

SINGAPORE Thu Feb 13, 2014 6:56am IST

A woman speaks on a mobile phone in front of a SingTel logo at the company's headquarters in Singapore May 13, 2010. REUTERS/Vivek Prakash/Files

A woman speaks on a mobile phone in front of a SingTel logo at the company's headquarters in Singapore May 13, 2010.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

SINGAPORE (Reuters) - Singapore Telecommunications Ltd (STEL.SI) beat forecasts with a 6 percent rise in third-quarter net profit, as strength in its regional affiliates helped overcome the negative impact of a volatile foreign currency market.

Southeast Asia's largest telecommunications operator posted a net profit for the October-December quarter of S$872 million, beating an average forecast of $857 million by five analysts polled by Reuters.

Its earnings before interest, taxes, depreciation and amortisation (EBITDA) were nearly flat from a year earlier at S$1.26 billion.

The company's operating revenue declined 7.3 percent on the year to S$4.26 billion, hit by the sharp decline in the Australian dollar, it said on Thursday.

SingTel's share of its associates' pre-tax profits saw a strong 11 percent gain, mainly thanks to robust earnings growth from Bharti Airtel Ltd (BRTI.NS), the top mobile phone operator in India in which SingTel has a 32 percent stake.

Its total number of mobile customers increased 3 percent in the quarter to 501 million, SingTel said.

SingTel's major overseas businesses are in Australia, India and Indonesia. The Australian dollar, the Indonesian rupiah and the Indian rupee declined 9 percent, 18 percent and 12 percent respectively against the Singapore dollar during the quarter.

The company revised guidance on segment performance for the financial year ending March 2014, expecting low double-digit declines in consumer business revenue and low single-digit falls in enterprise business income.

"We have updated our revenue guidance for Group Consumer and Group Enterprise as a result of the weak Australian dollar and the more cautious business environment and spending," Group CEO Chua Sock Koong said in a statement.

(Reporting by Rujun Shen; Editing by Stephen Coates)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Deal Talk

Reuters Showcase

Shopping Plans

Shopping Plans

Yahoo in talks to buy ad service BrightRoll - TechCrunch.  Full Article 

Data Breach

Data Breach

Staples says investigating possible payment card data breach.  Full Article 

Eavesdropping Agency

Eavesdropping Agency

Outgoing UK spy chief rejects mass surveillance claims.  Full Article 

Fat Paycheck

Fat Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Access to Information

Access to Information

GT Advanced nears deal over Apple secrecy - lawyer.  Full Article 

Cyber Attack

Cyber Attack

China-backed hackers may have infiltrated Apple's iCloud - blog.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage