SingTel Q3 net profit falls 8.3 pct, sees revenue drop
AIS, the top Thai mobile phone operator, reported a more than doubling in quarterly net profit, boosted by strong voice and data services and higher handset sales after the launch of Apple's iPhone 5.
For Indonesia's Telkomsel, SingTel's share of pretax ordinary profit rose 10.5 percent to S$250 million during the quarter from a year ago. In constant currency terms, the contribution from Telkomsel rose 24.5 percent.
Bharti, India's biggest mobile phone operator, however, reported its net profit fell for the 12th consecutive quarter, hurt by foreign exchange losses as well as higher taxes and financing costs.
SingTel owns about a third of Bharti, whose 72 percent year-on-year drop in quarterly profit was way below the estimates of analysts polled by Reuters.
"Pre-tax earnings (from associates) grew 1 percent to S$455 million and would have increased 11 percent if exchange rates were unchanged from a year ago," SingTel said.
SingTel said it will continue to invest in networks and adopt "transformational initiatives" to drive longer-term growth.
"As a result of these investments, the group incurred higher depreciation, spectrum amortisation charges, and increased costs from the acquisition of digital companies," it said.
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