Singapore Telecommunications (Singtel) recently reported a net profit of $445 million for its 1QFY2022 ended June in its latest business update on Aug 12. This is in comparison to a net loss of $20 million last year, which was mainly due to restructuring costs and one-off costs from its associates Telkomsel and Bharti Airtel.
Operating revenue for the period increased by 7.5% y-o-y to $3.80 billion, as the group saw improvement across all its segments, with the exception of Singtel-originated business. The latter has been progressively transferred to Singapore since April 1 as part of the group’s restructuring.
