IBTimes UK

Singtel said it made a net profit of $946 million in the fourth quarter ended March 31, supported by solid performance in core business.

Net profit for the financial year rose two percent to $3.87 billion, which in constant currency terms is a rise of six percent.

The latest quarterly results showed only a marginal 0.08 percent increase in profits over $938.8 million reported in the same period in 2015.

South-east Asia's biggest telecommunications operator said on Thursday currency fluctuations offset higher returns from the mobile data business, which was the key growth driver. In constant currency terms the net profit would have shown a rise of three percent, the telco said.

"Foreign currency movements against the Singapore dollar affected the Group's net profit by 3% or S$27 million for the quarter," the company said.

It said the acquisition of Trustwave, a US cybersecurity business, also acted as a drag on profit. Excluding Trustwave, Singtel's net profit for the quarter would have climbed two percent.

Singtel CEO Chua Sock Koong said the company worked with its regional associates to navigate a shift from voice to data, which paid off.

"Mobile data was the bright spot. Our regional markets are now making their respective transitions from mobile telephony to mobile internet and harnessing the benefits of extensive investments in 3G and 4G networks and services," Chua added.

The Singtel board approved a final ordinary dividend per share of 10.7 cents.