The rise in the share price is backed by investors’ optimism with the improving numbers. For the most recent 3QFY2022 ended Dec 31, 2021, Sats reported revenue of $307.8 million, up 22.6% y-o-y. Patmi came in at $5.1 million, a reversal from a $2.8 million loss in the same period a year before. If government reliefs were stripped out, Sats would record a loss of $33 million, compared to a $52.8 million loss in 3QFY2021.
Just like the rest of the aviation sector, when the pandemic broke out, investors flew the coop on Sats, sending its share price down by half from about $5.10 before the Covid-19 pandemic, to a low of $2.52 during the selloff on March 23, 2020.
Two years on, with vaccination and the gradual reopening, shares of Sats have recovered as well. On April 27, it closed at $4.63, valuing the airport ground-handling and in-flight catering service provider at $5.2 billion.
