Singtel shares up 4.2% 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
Singtel shares experienced a 4.2% increase on Friday, August 14, following the release of its first-quarter results. Although the overall net profit for the period dropped by 71.6% to S$818 million, the company's underlying profit rose by 21% to S$831 million. This growth was fueled by gains from the sale of a partial stake in Airtel and the merger of Intouch-Gulf Energy, creating one-off profits for the quarter.
The telecommunications giant's shares reached a high of S$4.43 at 11:50 am, with approximately 22.4 million securities traded.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
