SINGAPORE, May 15 — Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, posted fourth-quarter profit that missed analysts’ estimates as sales in its Australian unit declined.

Net income rose 3.5 per cent to S$898.3 million (RM2.31 million) in the three months ended in March, from S$868.2 million a year earlier, the Singapore-based company said in a statement today. That compares with the S$904 million average of five analysts’ estimates compiled by Bloomberg. Total sales dropped 7.9 per cent to S$4.13 billion, beating the average projection of S$3.84 billion.

SingTel is trying to reignite growth at its Optus phone division in Australia, its biggest unit, where sales have dropped in recent quarters. It’s also increasing its foothold in new digital businesses, including mobile advertising. The company, which gets less than half its revenue from its home market, is expanding in Asian markets, including India, where it holds a stake in Bharti Airtel Ltd.

SingTel shares gained 1.9 per cent to close at S$3.84 in Singapore yesterday. The stock has gained 4.9 per cent this year compared with the benchmark Straits Times Index that has added 2.9 per cent.

SingTel owns all of its Singapore and Australian phone businesses in addition to minority stakes in other mobile operators, including Bharti Airtel, Indonesia’s PT Telekomunikasi Selular and Globe Telecom Inc. in the Philippines. — Bloomberg