By Megan Cheah
Singapore Telecommunications' third-quarter net profit climbed thanks to an exceptional gain from a partial Bharti Airtel stake sale.
The telecom operator's net profit for the three months ended Dec. 31 rose 43.5% on year to 1.89 billion Singapore dollars, equivalent to US$1.50 billion, the company said Thursday.
This includes a net exceptional gain of S$1.15 billion, largely from the sale of a partial stake in regional associate Airtel, Singtel said.
Its operating revenue for the period added 0.9% to S$3.66 billion.
Singtel's third-quarter underlying net profit gained 9.5% to S$744 million, boosted by strong performances from Airtel and AIS, another regional associate, it added.
Singtel recently announced it would be raising its stake in data-center provider ST Telemedia Global Data Centres through a consortium led by U.S.-based KKR. This move significantly advances its strategy to scale its digital-infrastructure growth engine, said Singtel Chief Executive Yuen Kuan Moon.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
02-11-26 1927ET
