SingTel Group revenues went up 3 percent in the fiscal third quarter to SGD 4.83 billion, from SGD 4.70 billion a year earlier, 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 percent to SGD 902 million from SGD 998 million, while underlying net profit (excluding exceptional items and exchange differences) slipped 8 percent to SGD 895 million. EBITDA totalled SGD 1.26 billion, down 2 percent as EBITDA from the Singapore business was impacted by costs associated with higher mobile customer connections and the launch of iPhone 4S, as well as a full quarter of lease payments to NetLink Trust.
