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Singtel's Q3 profit rises 2% to S$972.8m
SINGAPORE Telecommunications (Singtel) on Thursday posted a 2 per cent increase in net profit to S$972.8 million for the third quarter ended Dec 31, 2016 - boosted by higher dividends from its cables unit Southern Cross and currency revaluation gains.
This came on the back of a 2 per cent year-on-year fall in revenue from S$4.47 billion to S$4.41 billion, due mainly to mandated cuts to mobile termination rates in Australia.
Singtel said that excluding this rate impact, revenue for the quarter would have grown 3 per cent.
Earnings per share came up at 6.03 Singapore cents, compared with 5.98 Singapore cents in the previous year.
No dividends were proposed for the period.