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Singtel says Q2 profit stable, currency impact hurts
[SINGAPORE] Singapore Telecommunications Ltd reported an almost flat second-quarter net profit, as the impact from adverse currency movements offset the growing usage of mobile data across its markets.
Singtel, southeast Asia's biggest telecommunications operator, posted a net profit of S$1.03 billion for the three months ended September, compared with S$1.04 billion a year ago.
It posted a flattish underlying net profit of S$974 million, excluding one-time items.
Singtel derives the bulk of its revenue outside Singapore, making its earnings susceptible to currency changes.