Southeast Asia's largest telecommunications operator Singapore Telecommunications reported a 7% rise in first-quarter net profit on Wednesday, helped by its consumer business and contribution from its regional mobile associates.
But the company said it expects group revenue to fall by mid single digit level and earnings before interests, taxes, depreciation and amortisation (EBITDA) to decline by low single digit level for the financial year ending March 2014.
“Due to the diversity of our business, we are subject to foreign exchange volatility and have updated our guidance in view of the weakening Australian Dollar,” SingTel chief executive Chua Sock Koong said in a statement.
SingTel earned $1.01 billion in the three months ended in June, up from $945 million a year ago. Its underlying net profit rose 6% to $897 million.
The company said it is optimistic that its Indian associate, Airtel, will benefit from the return of some pricing discipline to the Indian mobile market.
SingTel signalled on Tuesday it may not be selling Optus Satellite after announcing it had concluded its strategic review of the business.
The statement came after SingTel received offers for Optus that were below the A$2 billion ($2.3 billion) price previously set by the Singapore company, sources told Reuters last week.
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