SINGAPORE -- Singapore Telecommunications Limited (SingTel) today announced that Group revenue in the third quarter rose 3 per cent to S$4.83 billion driven by mobile customer growth in both Singapore and Australia.

The strong gain in mobile customers in Singapore during the quarter led to higher acquisition and retention costs, while contributions from the regional mobile associates declined due to their weaker currencies and 3G losses from Bharti India. In addition, the Group recorded higher net finance expense, reflecting its financing strategy of extending debt maturity with long-term borrowings, and higher taxes from Bharti. Consequently, net profit declined 10 per cent to S$902 million.

The regional mobile associates had another quarter of strong customer growth and in some key markets, competition eased and mobile tariffs improved. In Singapore Dollar terms, pre-tax earnings of the regional mobile associates fell 8 per cent to S$449 million, and in constant currency, it would have declined 3 per cent.

Singapore Telecommunications Ltd. (SingTel) (OTC: SGTJY)