Singtel's First-Quarter Net Profit Rose on Exceptional Gains
By Amanda Lee
Singtel's net profit rose in its first quarter, supported by exceptional gains.
Singapore's largest mobile network operator said on Wednesday that its profit rose to 2.88 billion Singapore dollars, equivalent to US$2.24 billion, during its fiscal first quarter ended June.
The company had reported a net profit of S$690 million in the same period last year.
The exceptional gains amounted to S$2.20 billion, primarily from the sale of a partial stake in Airtel and the Intouch-Gulf Energy merger.
Operating revenue declined 0.6% to S$3.39 billion.
Singtel Group chief executive Yuen Kuan Moon said the company expects its data center business to be another bright spot for fiscal year 2026.
"We remain focused on solid execution and operating discipline to drive sustainable growth," Yuen added.
Write to Amanda Lee at amanda.lee@wsj.com