Aug 12

SingTel profit dips on forex losses

SingTel has revealed its first quarter profit slumped 2.9%, due to forex woes and finance and tax expenses. The company reported net profit of S$943 million ($773 million), and 7.4% higher group revenue of S$4.29 billion.

SingTel’s core businesses in Singapore and Australia – through subsidiary Optus – each grew revenue around 2% – and the stronger Australian dollar meant Optus’ contribution in Singapore dollars grew 10.1%.

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