Singtel 1Q FY 2015 Result

SingTel reported a 17% fall in its 1Q FY 2015 profit to S$835 million, hurt by one‐off items and adverse currency movements. Revenue fell 3.4% to S$4.15 billion, while Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) was S$1.25 billion, down 3.2%. SingTel derives the bulk of its profits from overseas, making its earnings particularly susceptible to currency changes. The company is expected to benefit from a turnaround in the Indian market where it effectively owns nearly a third of top mobile phone carrier Bharti Airtel. Shares of the company, valued at US$50 billion, have risen 6.8% so far this year, compared with a 4.2% increase in the broader market.