[November 11, 2008] SingTel Q2 net falls 12 pct on FX, iPhone launch Tweet SINGAPORE, Nov 12, 2008 (Reuters via COMTEX) -- Singapore Telecommunications , Southeast Asia's largest phone company, said on Wednesday quarterly profit fell 12 percent, hit by subsidies for its Apple iPhone launch and a stronger Singapore dollar versus regional currencies. Fiscal second-quarter attributable net profit was S$868 million ($577 million) versus S$988 million last year. State-controlled SingTel -- Singapore's largest listed firm -- made underlying net profit before goodwill and exceptionals of S$801 million in the July-September quarter, compared with S$914 million in the year-ago period. This was below an average underlying net profit forecast of S$810.5 million from four analysts polled by Reuters. Facing a domestic market of just 4.6 million people where virtually everyone has a mobile phone, SingTel has spent S$18 billion in recent years buying stakes in mobile operators in high-growth Asian countries like India and in the bigger Australian market. SingTel shares fell 10.2 percent in July-September, outperforming a near 20 percent plunge in the benchmark Straits Times Index over the same period. (Reporting by Jennifer Tan; Editing by Kim Coghill) ([email protected]; +65-6403 5660; Reuters Messaging: [email protected]) * Reuters 3000 Xtra clients can now view daily data on how reported Asian company earnings compare with analysts' forecasts, as measured by Reuters Estimates. Double click on ($1=1.504 Singapore Dollar) Keywords: SINGTEL/RESULTS COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. MMMM [ Back To TMCnet.com's Homepage ]