SingTel posts 3.3 per cent rise in second quarter net profit

Nov 7, 2007, 5:13 GMT

Singapore - Singapore Telecommunications Ltd., South-East Asia's largest phone company, said Wednesday second quarter net profit rose by a better-than-expected 3.3 per cent compared to the corresponding period last year, boosted by record earnings in India.

Net profit for the July to September quarter reached 988 million Singapore dollars (683 million US dollars), up from 956 million Singapore dollars.

'We are forging ahead in growth segments and are pursuing strategic initiatives to develop new revenue streams,' Chief Executive Officer Chua Sock Koong said in a statement.

The company's primary focus is in Asia, she stressed.

Operating revenue came in at 3.69 billion Singapore dollars, up 10.0 per cent from 3.33 billion Singapore dollars.

Underlying net profit, which strips out exceptional items, was 914 million Singapore dollars compared with 815 million Singapore dollars last year.

Contributing nearly 20 per cent of net income was Bharti Airtel Ltd, India's largest wireless-phone operator.

SingTel's Optus unit in Australia saw revenue rise 3.7 per cent.

The company added 21.6 million mobile users during the quarter. Led by India and Pakistan, its customer total hit 157.97 million.