Sats reports 1HFY2023 loss of $32.5 million, proposed rights issue to be capped at $800 million

Sats has reported revenue of $804.5 million for 1HFY2023 ended Sept 30, up 41.33% y-o-y, led by the resumption of travel demand and higher volume of cargo handled, as well as consolidation of revenue from a subsidiary.

However, it incurred a loss of $32.5 million for the same period, versus earnings of $13.2 million, a quarter that benefitted from government grants.