By P.R. Venkat
Singtel said its net profit for the first quarter fell 35% on year mainly because of losses suffered by its Indian associate Bharti Airtel Ltd. (532454.BY).
Net profit for the quarter ended June was 541 million Singapore dollars (US$392 million), Singtel said in a statement Thursday.
The company also attributed the fall in net profit to higher depreciation and amortisation costs in network and spectrum across the group.
Operating revenue rose 2% on year in the first quarter to S$4.11 billion.
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