Singtel Profit, Revenue Fall in Fiscal Third Quarter
By Amanda Lee
SINGAPORE--Singtel posted drops in both profit and revenue in its latest quarterly results, as currency and macroeconomic headwinds weighed on its performance.
The company, Singapore's largest mobile network operator, said Friday that its profit fell to 465 million Singapore dollars (US$346.2 million) during its fiscal third quarter ended December. That was down from S$532 million a year earlier.
Operating revenue dropped by 3.2%, affected in part by a strong Singapore dollar.
Singtel Group CEO Yuen Kuan Moon said the carrier's "underlying financial results in the third quarter were stable despite a tough macroeconomic environment and persistent currency headwinds."
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
February 22, 2024 20:21 ET (01:21 GMT)
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