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Singapore’s telecom giant posts 25% increase in Q3 net profit

Singapore Telecommunications (SingTel) said its third quarter net profit rose 24 per cent on-year to S$990.7 million, reported Channel News Asia. (1$=1.4S$)

The increased profit came on the back of higher revenue, with the group making a 20 per cent gain to S$4.45 billion.

SingTel said steady growth from Singapore and Australia, as well as a stronger Australian dollar, helped to boost earnings.

Revenue from Singapore increased 1.5 percent to S$1.53 billion while revenue from Australia rose 4.8 per cent to A$2.3 billion. Driving growth in the two countries is a strong performance in the units' mobile operations.

The Singapore unit's mobile communications revenue was up by 9 percent to S$406 million.

But the telco noted that cautious corporate telecom spending impacted the growth of data and international telephone revenue in Singapore and Australia.

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