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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters