SingTel FQ3 Net Profit Drops 9.6%

Singapore Telecommunications Ltd

reported a 9.6% drop in its fiscal third-quarter net profit. SingTel's quarterly net profit fell to S$902 million (US$717 million), from S$998 million, in the year-ago period. However, analysts were expecting a net profit of S$931 million. Pretax profit from SingTel's regional mobile associates dipped 7.9% to S$449 million. SingTel's operating revenue climbed 2.7% y/y to S$4.83 billion from S$4.70 billion. However, analysts were expecting operating revenue of S$4.78 billion.