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Wednesday, December 11th, 2019

Singapore Telecommunications : 2Q Net Profit Falls 5.6% On-Year

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by November 9, 2016 General

By Saurabh Chaturvedi
SINGAPORE–Singapore Telecommunications Ltd. (Z74.SG) Thursday reported a 5.6% on-year fall in its fiscal-second quarter net profit due mainly to absence of exceptional gains that the telecom company had in the year-ago period.Net profit for the July-to-September quarter fell to 972 million Singapore dollars (US$695 million) from S$1.03 billion a year earlier. Group revenue fell 2.3% on-year to S$4.09 billion.The company’s Indian associate Airtel had reported exception gains in the year ago quarter. Absence of such gains weighed on quarterly profit, SingTel said in a stock exchange filing.SingTel’s Australian unit Optus Pte. reported a 20.3% on-year fall in net profit at 184 million Australian dollars, while operating revenue declined 8.7% to A$2.11 billion.SingTel’s share of earnings of its mobile associates in countries including India, Indonesia and Thailand rose by 7.4% on-year to S$679 million.Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com

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