Singtel posted earnings of S$2.88 billion for 1QFY2026, surging 319.7% y-o-y, driven mainly by a one-off gain.
Excluding exceptional items of S$2.2 billion from a partial sale of its Airtel stake and the merger of two related Thai entities, underlying net profit rose 16.7% y-o-y to S$686 million.
Optus, its Australian arm, and NCS, the regional IT services subsidiary, both recorded year-on-year EBIT growth. Regional associate contributions also improved, led by Thailand’s AIS and India’s Airtel.
Operating revenue for the quarter ended June slipped 0.6% y-o-y to S$3.39 billion but climbed 2.9% in constant currency terms. Revenue was weighed down by a 7% depreciation of the Australian dollar and fluctuations in other regional currencies.
Group CEO Yuen Kuan Moon described the results as a “strong set” despite macroeconomic headwinds and currency volatility. As part of its capital recycling strategy, Singtel further reduced its Airtel stake by 1.2%, capitalising on buoyant market conditions in India.
“With our business momentum and capital recycling, we are on track to achieve our goals and accelerate growth in the second year of our Singtel28 plan,” Yuen said, adding that the completion of Nxera’s data centres in Thailand and Singapore will be a growth driver in FY2026.
“We remain focused on solid execution and operating discipline to drive sustainable growth,” he added.
Singtel shares closed at S$3.92 on Aug 12, down 0.25% for the day but up 26.86% year to date.
Source: The Edge Singapore
