Singtel's Q1 profit steady; revenue dips

SINGAPORE Telecommunications (Singtel) on Thursday posted a 0.3 per cent increase in its net profit for the first quarter ended June 30, 2016, to S$944.3 million.

Revenue fell 7.1 per cent to S$3.9 billion, impacted by the decline in mobile termination rates in Australia, depreciation of the Australian dollar, higher mobile service credits from device repayment plans and lower equipment sales.

Earnings per share rose to 5.93 Singapore cents from 5.91 Singapore cents a year ago.

The telco said that in constant currency terms, net profit would be up by 2.3 per cent and operating revenue would have declined by 5.7 per cent.