Singapore-based telecom service provider SingTel has posted net profit of Rs 36.03 billion for the third quarter ending December 31, 2012. For the corresponding period in 2011, the company had registered a net profit of Rs 39.28 billion.
For the quarter under review, operator reported an increase of five per cent in depreciation and amortization cost. SingTel?s depreciation and amortization cost increased from Rs 21.72 billion in the third quarter of 2011 to Rs 22.82 billion for the corresponding quarter in the financial year 2012. The exceptional charges for the company for the period under review stood at Rs 29.17 billion. The exceptional charges include ex-gratia payments of its Australian subsidiary, Optus, for the restructuring of its workforce and accelerated depreciation charges related to Philippine associate Globe Telecom?s network modernisation and IT transformation programmes.
Further, the company?s group revenues declined from Rs 210.41 billion in the third quarter of 2011 to Rs 200.25 billion for the third quarter of 2012.
SingTel holds around 32 per cent stake in Bharti Airtel. For the quarter under review ? Bharti Airtel?s pre-tax contribution to the group declined by 46 per cent and stood at Rs 3.04 billion. The decline was on account of weaker Indian rupee, increased depreciation and amortisation, higher net financing costs and fair value losses. For the third quarter of 2012, South Asia posted an 8 per cent increase in revenue driven by strong voice traffic growth. However, this growth was offset by higher costs incurred for 3G network expansion and huge investments in the long-term-technology-evolution. Airtel Africa registered a 6 per cent growth in earnings before interest, taxes, depreciation, and amortization with robust growth in mobile voice traffic.
