Singapore Telecommunications (Singtel) posted a Q2 net profit of $ 945 million or 5.92 Singapore cents a share as compared to $ 878 million or 5.5 Singapore cents a share posted a year ago at a 7.7 %. Revenues increased to $ 3.84 million as compared to $ 3.77 billion recorded a year ago.

“This (first) quarter, higher contributions from our regional mobile associates, in particular, Telkomsel and Bharti, helped to drive the group’s earnings, despite the negative currency impact,” said SingTel International Chief Executive Officer Lim Chuan Poh. “The associates contributed 53 per cent to the Group’s underlying net profit, up three percentage points from a year ago,” he added.

Singtel also gained from fair value gains on Bharti’s US dollar and Yen borrowings which were at $ 23 million for the quarter as compared to a loss of $ 15 million a year ago.