Hot stock: Singtel up 2.6% on Q1 net profit turnaround

SHARES of Singtel climbed 2.6 per cent on Thursday in early trade, after the company announced that it had turned a net profit of S$445 million for the first quarter ended June 30, compared with a net loss of S$20 million a year ago.

As at 9.26am, Singtel shares were up 2.6 per cent or S$0.06 at S$2.37 after 17.3 million shares changed hands.

No married deals were made in early trade, according to ShareInvestor data.

The telco also posted a 7.5 per cent increase in operating revenue to S$3.8 billion, from S$3.5 billion a year ago.

This was mainly driven by Singtel's Australian consumer business, where its operating revenue grew 7.7 per cent due to an 11 per cent appreciation of the Australian dollar.