Singtel shares close up 4.7% after underlying Q1 net profit grows 21%
The counter rises after falling 0.9% on Thursday, following a 71.6% drop in first-quarter earnings
Singtel shares experienced a significant 4.7% increase, closing at S$4.45 on Friday (Aug 14), following a 0.9% drop on Thursday. The telecommunications company reported a first-quarter net profit of S$818 million, which was a 71.6% decline from the previous period. However, the overall decrease in net profit was offset by exceptional gains from the sale of a partial stake in Airtel and the Intouch-Gulf Energy merger, resulting in one-off gains in Q1 2025.
Despite the overall decline, Singtel's underlying net profit for the three months ending June 30 rose by 21% to S$831 million. This growth was primarily driven by the performance of Airtel, AIS, NCS, Optus, and the group's Digital InfraCo arm. During the trading day on Friday, Singtel's shares reached a peak of S$4.43, with approximately 22.4 million securities changing hands.
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