SingTel profit up 19% in Q2

Souththeast Asia's largest telecommunications operator reported a 19 per cent rise in second-quarter net profit on Nov 13, 2014. -- PHOTO: ST FILE
Souththeast Asia's largest telecommunications operator reported a 19 per cent rise in second-quarter net profit on Nov 13, 2014. -- PHOTO: ST FILE

Singapore Telecommunications reported a 19 per cent rise in second-quarter net profit on Thursday, helped by higher contributions from its regional associates.

Souththeast Asia's largest telecommunications operator said its earnings for the three months to September 30, 2014, were $1.04 billion compared with $870 million for the same period a year ago, despite adverse currency movements. In constant currency terms, net profit would have risen 22 per cent.

Underlying net profit increased 11 per cent to $979 million, excluding a net exceptional gain of $59 million which arose mainly from the dilution of the group's equity stake in SingPost.

Revenue rose 4 per cent to $4.31 billion from strong performances in ICT services, mobile data growth and equipment sales in Singapore and Australia, and higher digital marketing revenue.

The group's share of pre-tax earnings from the regional mobile associates grew 26 per cent to $629 million.