Singapore’s SingTel reported a tiny increase in net profit for the fourth-quarter (fiscal Q3) as costs related to its investment in India’s Bharti weighed on good performances at its wholly-owned subsidiaries in Singapore and Australia (Optus). Underlying net profit attributable to shareholders rose 0.8 percent to SGD998 million (US$783 million) in the quarter, while group revenue rose 5.7 percent to SGD4.7 billion. The Singapore business reported a 7 percent increase in revenue to SGD1.63 billion with growth across major revenue streams led by mobile. In Australia, revenue rose 4 percent to AUD2.38 billion (US$2.4 billion) – a performance it attributed to continued mobile growth and a strong Australian dollar. “Singapore and Australia continued to perform and deliver strong revenue growth and cash flows despite the level of competition in these markets,” SingTel’s CEO Chua Sock Koong said in a statement.

However, SingTel reported a 13 percent decline in pre-tax earnings at its Regional division, which includes investments in operators in countries such as Indonesia (Telkomsel), Thailand (AIS), India (Bharti) and the Philippines (Globe). It attributed the shortfall to “competitive pressures faced by Telkomsel and Globe [and] Bharti’s financing cost for acquiring its African business.” Bharti Africa, which was acquired in June 2010, recorded an operating profit in the quarter and SingTel’s share amounted to SGD7 million. However, with the inclusion of SGD22 million in related acquisition financing costs and SGD15 million of fair value losses, the group’s share of overall ordinary pre-tax losses from Bharti Africa amounted to SGD31 million. Ordinary pre-tax contribution from Bharti’s South Asia operations came in at SGD215 million, 9 percent lower, due to unfavourable foreign currency movements.