August 13, 2014 / 10:49 PM / 3 years ago

Singtel Q1 profit falls 17 pct on one-off items

(.)

SINGAPORE, Aug 14 (Reuters) - Singapore Telecommunications Ltd, Southeast Asia’s largest telecommunications operator, reported a 17 percent fall in its first-quarter profit, hurt by one-off items and adverse currency movements.

SingTel earned S$835 million in the three months ended in June, compared with S$1.01 billion a year ago. The latest quarter included one-off losses of S$46 million, compared with net exceptional gains of S$114 million in the year-ago period.

Its underlying net profit was S$881 million, compared with S$897 million in the year-ago period.

Analysts on average were expecting a net profit of S$916 million, excluding one-time items, according to a Reuters poll of four brokerages.

Revenue fell 3.4 percent to S$4.15 billion.

In an outlook statement the company said it expects its consolidated revenue and underlying profit for the financial year ending March 2015 to be stable. (Reporting By Aradhana Aravindan and Rachel Armstrong)

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