Singtel shares up 3.5% after underlying Q1 net profit grows 21%
The counter rises after falling 0.9% on Thursday, when the telco reported a 71.6% drop in first-quarter earnings
[SINGAPORE] Singtel shares rose as much as 3.5 per cent on Friday (Aug 14), a day after it reported its first-quarter results.
The telecommunications giant’s Q1 net profit was down 71.6 per cent at S$818 million, despite exceptional gains from the sale of a partial stake in Airtel and the Intouch-Gulf Energy merger creating one-off gains in Q1 2025.
The counter dropped 0.9 per cent to S$4.25 on Thursday, after the results.
Despite the overall net profit decline, Singtel’s underlying net profit for the three months to Jun 30 was up 21 per cent at S$831 million, driven by Airtel, AIS, NCS, Optus and the group’s Digital InfraCo arm.
Shares of Singtel climbed as high as S$4.40 as at 11.12 am on Friday, with about 22.4 million securities traded.
