The profits they enjoyed the same time last year was $1.01 billion.
SingTel explained that the lower profit was due to currency shifts and one-off items between the last quarter and the year before.
For instance, in financial year Q1 2013, SingTel gained $150 million from the dilution of its stake in Airtel. This year, there were also large one-off costs associated with staff restructuring .
Total revenue for FY Q1 2014 was $4.15 billion, slightly below analysis' estimates.
However, SingTel continued to enjoy a growing customer base and its regional associates Airtel and Globe also enjoyed strong customer growth. All together, the three companies saw a 10% increase in customers from last year.
SingTel also explained that both Airtel and Globe had solid performance and they will continue to collaborate with associates to improve their investments.
Going forward, SingTel CEO Chua Sock Koong indicated that the outlook is positive.