February 13, 2019 / 11:44 PM / 8 months ago

Singtel Q3 net profit falls 14 pct

SINGAPORE, Feb 14 (Reuters) - Singapore Telecommunications Ltd on Thursday posted a 14 percent decline in third-quarter net profit, partly due to intense competition in India and higher depreciation and amortisation from network investments by regional associates.

Singtel, Southeast Asia’s largest telecom operator, posted net profit of S$823 million ($605 million) for the three months ended in December, compared with S$959 million a year ago.

Underlying net profit, which excludes one-time items, fell 28 percent to S$680 million.

Singtel owns stakes in a number of regional telecom operators including India’s Bharti Airtel, whose earnings have suffered from intense competition in its home market. ($1 = 1.3597 Singapore dollars) (Reporting by Aradhana Aravindan; Editing by Sam Holmes)

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