SingTel shares fall after weaker-than-expected Q3 result

February 14, 2013

SINGAPORE, Feb 14 (Reuters) - Shares of Singapore Telecommunications Ltd (SingTel) fell more than 2 percent on Thursday after the biggest telecoms operator in Southeast Asia posted third-quarter earnings that came in below expectations.

SingTel shares fell as much as 2.2 percent to S$3.52, underperforming the broader Straits Times Index which was 0.3 percent lower.

SingTel reported early on Thursday a 8.3 percent fall in third-quarter net profit and reiterated its forecast for a decline in revenues this year.

The company earned S$827 million ($668 million) in the three months ended in December, a drop from S$902 million a year earlier as a strong Singapore dollar and one-off charges eroded its bottom line.

DBS Vickers said SingTel's earnings growth for the 2013 fiscal year "could enter into negative territory now with 4.7 percent yield as the only attraction."

SingTel said at a briefing it has seen the beginning of some stability in the Indian telecoms market. It also said it has expressed interest in obtaining a Myanmar telecoms licence. (Reporting by Eveline Danubrata)