Singtel Q1 profit gains 41.3% on better performance
Singapore Telecommunication $Singtel(Z74.SG$ said in a regulatory filing that its net profit for the first quarter ended June 30 increased 41.3% to S$628 million from S$445 million the previous year (Aug 24). The primary reasons for this were improved operational performance and "extraordinary gains" from Bharti Airtel in India.
Its operating sales decreased by 5.6% from S$3.8 billion to S$3.6 billion in the first quarter of 2022, while the group's first-quarter EBITDA fell by 2% to S$977 million from S$997 million.
Operating environment for the group remains challenging amid rising inflation and interest rates, as continuing geopolitical tensions further impact global supply chains.
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jkak : Singtel own 20 percent singpost. i tell you this company all doom when gov issue a antimonopoly telco service provider way back ago.