SingTel’s profit rises on exceptional gain from stake reduction in India’s Airtel

Singapore Telecommunications’ first-quarter earnings climbed, mainly buoyed by a net exceptional gain from diluting its stake in Indian telecom provider Bharti Airtel and the sale of some capital assets by associate Globe Telecom.

Singtel’s net profit rose 42.9% to S$690 million in the first quarter ended June 30 from S$483 million a year ago, Southeast Asia’s largest telecom provider said on Thursday.