SingTel reported a 8.3 per cent decline in net income last quarter, as the Singapore-based operator group suffered from negative forex movements, depreciation charges and slowing growth in key markets.

Net income in the firm’s fiscal Q3 (ended 31 December) fell to SGD827 million ($670 million), below the SGD900 million average estimate of three analysts polled by Reuters. Underlying net profit – excluding exceptional charges – fell 2 per cent to SGD874 million. Group sales were down 4.8 per cent to SGD4.6 billion.

At SingTel’s wholly-owned subsidiaries, there was a slim 1.3 per cent revenue rise in Singapore, but a 5.7 per cent decline (in local currency terms) at Optus, its Australian arm. SingTel’s share of profit from operators in the seven markets in which it has minority stakes was up 1.2 per cent.

The group’s proportionate customer base was up 1 per cent over the prior quarter, to reach 167 million.

“The performance of the group demonstrates the resilience of our core operations and focused execution even as we recognise the challenges in the various markets,” said Chua Sock Koong, SingTel’s CEO.

The operator also updated on its 4G-LTE rollout. In Singapore, it says that “island-wide coverage” will be achieved by the end of March. In Australia, Optus has extended its 4G coverage to Brisbane and the Gold Coast, and now covers major capital cities including Sydney, Melbourne, Brisbane and Perth.