Singapore Telecommunications’ first-quarter profit falls 23% By Reuters

© Reuters. FILE PHOTO A man looks out of the window under a Singtel signage at their head office in Singapore February 12, 2015. REUTERS/Edgar Su/File Photo

(Reuters) – Singapore Telecommunications on Monday reported a 23% decline in its first-quarter net profit owing to a one-off loss incurred by Airtel as the Nigerian naira depreciated sharply against the U.S. dollar.

Southeast Asia’s largest telecom firm said net profit for the quarter ended June 30 was S$483 million ($355.91 million), compared with S$628 million a year earlier.

($1 = 1.3571 Singapore dollars)

#Singapore #Telecommunications #firstquarter #profit #falls #Reuters

Leave a Comment