Singtel's 1Q Net Profit Drops on High Comparison Base
By Megan Cheah
SINGAPORE--Singtel's fiscal first-quarter net profit dropped, weighed by exceptional gains in the corresponding year-ago period.
The Singapore telecommunications operator on Thursday said net profit for the three months ended June declined 72% compared with the same period a year earlier to 818 million Singapore dollars, equivalent to US$638.7 million. Last fiscal year, the company's first-quarter results had included exceptional gains of S$2.20 billion from the sale of a partial stake in Airtel, as well as the Intouch-Gulf Energy merger.
Underlying profit for the first quarter rose 21% on year to S$831 million, boosted by its business units and its regional associates such as Airtel and AIS.
Operating revenue rose 4.9% to S$3.56 billion, partly reflecting favorable currency effects of a strong Australian dollar which mitigated weakness in Singtel's Singapore operations.
Singtel Chief Executive Yuen Kuan Moon said the company has begun to see contributions from its investments in its digital infrastructure unit, with its data-center arm Nxera seeing "good growth" in contracted capacity in the region from strong artificial-intelligence and cloud computing demand.
Shares of Singtel closed 0.5% lower at S$4.29 on Wednesday.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
August 12, 2026 20:40 ET (00:40 GMT)
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