Singtel's First-Quarter Profit Rose

Dow Jones2024-08-15

By Amanda Lee

Singapore Telecommunications' net profit rose in the first quarter, due to a net exceptional gain.

Net profit for the first quarter ended June rose 43% to 690 million Singapore dollars (US$524.1 million), the mobile network operator said Thursday.

Exceptional gains arose mainly from the dilution of Singtel's effective equity shareholding in Airtel, tower sales by key associate Globe and share of Bharti Airtel's net exceptional gains, the company said.

Operating revenue fell by 2.15% to S$3.41 billion, due to the absence of contributions from the deconsolidation of former cybersecurity unit Trustwave, the company said.

Singtel said it forecasts "high single digit to low double digits" earnings before interest and taxes for the full year.

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

August 14, 2024 20:14 ET (00:14 GMT)

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\n\n\n  Singapore Telecommunications' net profit rose in the first quarter, due to a net exceptional gain. \n\n\n  Net profit for the first quarter ended June rose 43% to 690 million Singapore dollars (US$524.1 million), the mobile network operator said Thursday. \n\n\n  Exceptional gains arose mainly from the dilution of Singtel's effective equity shareholding in Airtel, tower sales by key associate Globe and share of Bharti Airtel's net exceptional gains, the company said. \n\n\n  Operating revenue fell by 2.15% to S$3.41 billion, due to the absence of contributions from the deconsolidation of former cybersecurity unit Trustwave, the company said. \n\n\n  Singtel said it forecasts \"high single digit to low double digits\" earnings before interest and taxes for the full year. \n\n\n \n\n\n  Write to Amanda Lee at amanda.lee@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 14, 2024 20:14 ET (00:14 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, 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