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Singtel Q1 profit falls 17% on one-off items

Published on Aug 14, 2014 9:34 AM
 
A Singapore Telecommunications Ltd. employee uses his mobile phone while sitting inside one of the company's giant satellite dishes shortly after periodic work to clean it was completed in Singapore on Monday, July 19, 2004. 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. -- PHOTO: BLOOMBERG

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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