SingTel Q1 Profit Rises 6.9%

Singapore Telecommunications SGAPY reported a 6.9% rise in its net profit for the first quarter. SingTel's quarterly net profit surged to 1.01 billion Singapore dollars (US$797 million), from S$945 million, in the year-ago period. Its underlying net profit gained 6% to S$897 million, while operating revenue declined 5% to S$4.29 billion. SingTel shares closed at $30.33 yesterday.