Singtel's Q3 net profit dips to S$954m on forex woes, investments

Singapore

ADVERSE currency fluctuations and investments, both in spectrum and core capabilities, resulted in Singapore Telecommunications' (Singtel) third-quarter net profit falling 1.7 per cent to S$954 million from a year ago.

Operating revenue for the three months ended Dec 31, 2015, was up 1.1 per cent at S$4.47 billion, from S$4.43 billion a year ago. If exchange rate fluctuations were taken out, the third-quarter net profit was up one per cent while revenue was up 6 per cent. Earnings per share (EPS) for the period was down 1.6 per cent at 5.98 Singapore cents, from 6.08 cents previously.