SingTel FQ2 Net Profit Drops 1.6%

Singapore Telecommunications Ltd SGAPY reported a 1.6% drop in its fiscal second-quarter net profit. SingTel's quarterly net profit fell to 868 million Singapore dollars (US$710 million), from S$882 million, in the year-ago period. Its operating revenue declined 0.9% to S$4.57 billion from S$4.61 billion. SingTel shares closed at $26.10 yesterday.