SingTel's Q1 profit down 17.4%

[SINGAPORE] South-east Asia's largest telco operator Singapore Telecommunications (SingTel) has posted a 17.4 per cent year- on-year slide in net profit to S$834.6 million for the first quarter ended June 30, hit by one-off items and translation effects from weaker regional currencies.

SingTel, which gets the majority of Ebitda (earnings before interest, tax, depreciation and amortisation) from outside Singapore, saw its bottom line under pressure as the Singapore dollar strengthened against currencies in markets where the group or its associates operate.

Revenue was down 3.4 per cent at about S$4.15 billion as the Australian dollar weakened 5.4 per cent year-on-year against the Singapore currency, although revenue would have been stable if currency fluctuations were stripped out.