Reported on: May 10, 2012 11:23 AM
Reported in: Business
SINGAPORE, May 10 (AP/UNB) - Singapore Telecommunications Ltd. said its profit jumped 30 percent in the first quarter because of a large tax credit and better results at its units in Thailand and Indonesia.
SingTel said Thursday that profit for the January-March period rose to 1.29 billion Singapore dollars ($1.03 billion) from SG$992 million a year earlier. Operating revenue rose 3 percent to SG$4.78 billion from SG$4.64 billion.
SingTel said profits were boosted by a SG$270 million tax credit. The company said without the tax credit and other one-time items, underlying profit in the quarter rose 2.5 percent to SG$1.02 billion.
SingTel said profit from its regional mobile units rose 6.4 percent to SG$510 million, led by higher contributions from Thailand and Indonesia.