Singtel's Net Rose on Exceptional Gain; Open to Minority Partner in Optus
By Amanda Lee
Singapore telecommunications company Singtel reported a sharply higher net profit for fiscal year 2026, supported by a net exception gain, and said it is open to bringing in a minority partner for its Australian unit, Optus.
Net profit rose 40% to 5.61 billion Singapore dollars, equivalent to US$4.39 billion, for the fiscal year ended March, Singapore's largest mobile network operator said Thursday.
The results were buoyed by a net exceptional gain of S$2.84 billion, largely derived from stake sales in Airtel, though this was partly offset by provisions related primarily to its Australian operations.
Operating revenue increased 0.8% to S$14.26 billion.
Singtel also said that it is open to working with potential Australian partners, whose objectives align with ensuring Optus remains a strong alternative operator in the market and provides a reliable and trusted critical service to all Australians.
"Singtel contemplates a like-minded long-term local partner owning a meaningful minority stake in Optus," it said.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
May 20, 2026 20:52 ET (00:52 GMT)
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