Singapore Telecommunications (SingTel), Southeast Asia’s largest telecommunication company on Thursday reported 17.3 percent fall in quarterly net profit, as revenues slumped 5.1 percent.

Weighed down by the adverse foreign exchange rates and impairment charge, SingTel warned of weaker economic conditions in the months lying ahead.

SingTel posted S $903.4 million (USD $ 618 million) net profit for the quarter ended March 31, as compared to S$1.09 billion a year earlier.

Its operating revenue fell 5.1 percent to S $3.57 billion, from S $3.76 billion for the same quarter in the corresponding year. The overall revenue y-o-y received a slight up by 0.6 percent. EBIDTA witnessed 20 % growth.

SingTel''s net profit from its Singapore operations grew 61.3 percent on year to S $428 million during the quarter, while operating revenues from Singapore rose 12.7 percent on year to S $1.45 billion.

The operator said its expects its Singapore operating revenues to grow at a single-digit level in the current fiscal year, with EBITDA margin most likely to drop to around 36 percent-38 percent from 39 percent last fiscal year.

It expects capital expenditure in Singapore to be below S $800 million this financial year.

SingTel's net profit from Australia rose 17.1 percent on year to A$193 million during the quarter, while operating revenues grew 8.7 percent on year to A$2.1 billion.

But in Singapore dollar terms, revenues from Australia fell 14.4 percent on year to S$2.11 billion due to the weaker Australian dollar.

Full-year revenues from its Australian unit Optus recorded 7.2 percent growth.

Its Indonesian subsidiary, PT Telekominikasi Selular (Telkomsel), which released its quarterly results, said its quarterly net profit fell 29 percent because of low tariffs.

Chief executive Chua Sock Koong said, "SingTel continues to look for new investments in Asia and emerging adjacent markets and will be financially disciplined in its evaluation of these opportunities."

Its cash position stood at S $1.08 billion at the end of the fourth quarter.