Singtel Q1 profit falls 17% on one-off items
Published on Aug 14, 2014 9:34 AM
SINGAPORE (Reuters) - Singapore Telecommunications, Southeast Asia's largest telecommunications operator, reported a 17 per cent fall in its first-quarter profit, hurt by one-off items and adverse currency movements.
SingTel earned $835 million in the three months ended in June, compared with $1.01 billion a year ago. The latest quarter included one-off losses of $46 million, compared with net exceptional gains of $114 million in the year-ago period.
Underlying net profit came in at $881 million, down from $897 million a year ago and below analysts' expectations for $916 million, according to a Reuters poll of four brokerages.
Revenue fell 3.4 per cent to $4.15 billion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) were $1.25 billion, down 3.2 per cent.
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