SingTel shares fall after weaker-than-expected Q3 result

Reuters

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

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

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

The company earned S$827 million ($668 million) in the threemonths ended in December, a drop from S$902 million a yearearlier as a strong Singapore dollar and one-off charges erodedits bottom line.

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

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

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