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Singapore Telecommunications’ first-quarter profit falls 23%
© Reuters. FILE PHOTO A man looks out of the window under a Singtel signage at their head office in Singapore February 12, 2015. REUTERS/Edgar Su/File Photo
(Reuters) – Singapore Telecommunications on Monday reported a 23% decline in its first-quarter net profit owing to a one-off loss incurred by Airtel as the Nigerian naira depreciated sharply against the U.S. dollar.
Southeast Asia’s largest telecom firm said net profit for the quarter ended June 30 was S$483 million ($355.91 million), compared with S$628 million a year earlier.
($1 = 1.3571 Singapore dollars)
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