The company had reported a net profit of SGD 991.8 million during the same period a year ago.
SingTel attributed the increase in this net profit to "exceptional net tax credit of SGD 270 million on an increase in value of assets transferred to an associate".
The contribution from associate companies of SingTel also increased by 6 per cent during the quarter.
"The regional mobile associates turned in marked improvements in their operating and financial performance. Despite the weaker regional currencies and fair value losses, contributions from our associates rose 6 per cent," SingTel Group CEO Chua Sock Koong said in a statement.
SingTel reported decline in overall pre-tax contribution from Airtel to SGD 139 million, partly due to the weaker Indian rupee, which fell 12 per cent against the SGD.
"Airtel South Asia posted a strong revenue growth of 10 per cent. However, earnings were affected by India
