Singapore Telecommunications Limited (SingTel) reported on Thursday that its net profit for the first quarter this year went up by 7.7% over last year. However, it also said that challenges continued to rise within its operating environment.

SingTel, south-east Asia’s largest telecom company, posted a net profit of 945 million Singapore dollars for the first quarter which ended on June 30. According to a statement issued by SingTel, the figure was a 7.7% rise over last year’s figure of 878 million Singapore dollars.

Strong results in Singapore and its Australian unit Optus, and return to earnings growth by its regional associates were responsible for the rise. SingTel’s six regional mobile associates earned 624 million Singapore dollars, up 12% over last year. These associates include Bharti in India, Telkomsel in Indonesia, Globe in the Philippines, Warid in Pakistan, Pacific Bangladesh and Thailand’s Advanced Info Service.

Despite the negative impact of the Australian dollar and regional currencies and the unreliable economic situation, the group revenue rose 1.9% in Q1 to 3.84 billion Singapore dollars. The combined regional mobile phone customer base crossed 262 million, a growth of 33%.

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