Singtel’s net profit surges 43% in Q1 2024

The increase was due to a rebound from a net loss in Q1 2023.

Singtel reported a $690m net profit for Q1 2024, reflecting a 43% year-on-year (YoY) increase from $483m in Q1 2023, driven by a net exceptional gain versus a loss last year.

Operating revenue for the period dipped 2.1% YoY to $3.41m from $3.48m in Q1 2023 due to the absence of contributions from Trustwave.

Meanwhile, earnings before interest, taxes, depreciation, and amortization (EBITDA) improved by 8.4% as Trustwave’s losses were no longer consolidated.

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