Earnings from PT Telekomunikasi Selular Tbk in Indonesia, dropped 4.8 percent in Singapore dollars even as profit in local currency terms rose 1.1 percent.
Singapore Telecommunications Ltd. (ST), Southeast Asia’s biggest phone company, reported an unexpected drop in first-quarter profit as costs cut earnings at home and currency gains crimped income from regional businesses. Net income fell 2.9 percent to S$916.2 million ($755 million), or 5.7 cents a share, in the three months ended in June from S$943.2 million, or 5.9 cents, a year earlier, SingTel said in a statement today. Analysts had expected profit would rise to S$991 million, according to the average of three estimates compiled by Bloomberg. http://www.bloomberg.com/news/2011-08-10/singtel-1st-quarter-profit-of-s-916-2-million-less-than-analysts-estimates.html '+'
