Singapore's SingTel 4Q profit falls 9.6 percent

SINGAPORE (AP) — Singapore Telecommunications Ltd. said its quarterly profit dropped 9.6 percent as costs rose and the contribution from its India unit slumped.

SingTel said Monday that profit for the October-December quarter fell to 902 million Singapore dollars ($717 million) from SG$998 million a year earlier. Operating revenue rose 2.7 percent to SG$4.8 billion from SG$4.7 billion a year earlier.

Operating expenses jumped 4 percent to SG$3.6 billion amid higher customer acquisition costs.

SingTel said profit from its regional mobile units fell 7.9 percent to SG$449. Indian unit Bharti Airtel's contribution to earnings dropped 30 percent while SingTel's unit in Pakistan posted a loss of SG$15 million for the quarter.

The company said a stronger Singapore dollar also crimped profits from its regional units.

"Our regional mobile associates recorded strong operating performance in the quarter, said Hui Weng Cheong, CEO of SingTel International. "However, overall contributions were lower due to unfavourable currency movements."