Singtel reports 23% rise in H1 net profit

Singtel's first-half net profit rose by 23 per cent to about S$1.17 billion from last year's S$954 million. The sale of a 3.3 per cent stake in New Delhi-based Airtel boosted the telco's gain. However, Singtel's operating revenue dropped by five per cent, because of unfavourable foreign exchange rates.