SingTel Q2 profit below forecast

Singapore Telecommunications Ltd reported a 1.6 per cent fall in second-quarter net profit on Wednesday, dragged down by higher costs and weaker regional currencies, and flagged a drop in group revenue this fiscal year due to its Australian unit Optus.

SingTel, Southeast Asia’s largest telecommunications firm, said it now expects operating revenue in Australia to fall by mid single-digit levels in the financial year ending March 2013, due to price competition and reduced mobile termination rates. Previously, revenue in Australia was expected to grow by low single-digit levels.

via Business feed http://www.scmp.com/business/companies/article/1082142/singtel-q2-profit-below-forecast