SingTel said its fiscal first-quarter net profit rose 10.4% on the back of strong sales in Singapore and increased contributions from regional mobile associates.

SingTel said n a statement net profit for the April-June quarter was S$927 million ($609 million), up from S$840 million ($549 million) in the same quarter last year.

Operating revenue increased 10.5% to S$3.57 billion ($2.35 billion) from S$3.23 billion ($2.1 billion) previously.

Double digit growth at its mobile and Internet businesses in Singapore boosted revenue in its home market 10% from last year to 10% to S$1.16 billion ($762 million).

In Australia, SingTel said its Optus subsidiary saw revenue rise 3.5 % to A$1.9 billion ($1.59 billion) after a marketing campaign and a focus on raising its market share in Internet services.

Strong subscriber growth, especially at its associates in India and Indonesia, raised the post-tax profit from its regional associates 29% from a year ago to S$463 million ($304 million).

Apart from its operations in Singapore and Australia, SingTel owns substantial stakes in Bharti Airtel in India, PT Telkomsel in Indonesia, Thailand''s AIS, Globe Telecom in the Philippines and Pacific Bangladesh Telecom.

In June, SingTel said it is buying a 30% stake in Pakistan''s Warid Telecom.


Source: NewsEdge

Tags:SingTel