Singtel’s interim underlying profit jumps 10%; raises annual earnings forecast

Singapore Telecommunications (Singtel) posted a 10% rise in first-half underlying net profit on Friday, driven by strong performance from its units and regional associates, while raising its forecast for annual operating earnings from its core units.

Southeast Asia’s largest telecom operator said underlying net profit for the six months ended September 30 was S$1.49 billion ($1.16 billion), up from S$1.35 billion a year earlier.

Singtel said post-tax contributions from regional associates including India’s Bharti Airtel, Thailand’s Advanced Info Service (AIS) and Indonesia’s Telkomsel rose 9% to S$993 million.