SingTel FQ1 Net Profit Up 3.2%

Singapore Telecommunications Ltd SGAPY reported a 3.2% rise in its fiscal first-quarter net profit. SingTel's quarterly net profit surged to 945.3 million Singapore dollars (US$759 million), from S$916.2 million, in the year-ago period. However, analysts were expecting a net profit of S$919 million. SingTel's operating revenue declined to S$4.53 billion from S$4.61 billion. However, its revenue from Singapore operations climbed 8% to S$1.67 billion. SingTel's shares closed at $27.08 yesterday.