(Telecompaper) Singapore Telecommunications Limited (Singtel) saw its first-quarter net profit grow 13 percent year-on-year to SGD 942 million. In constant currency terms, net profit would have increased 16 percent. The Group recorded a net exceptional gain of SGD 47 million from divestment gains on venture investments and Airtel Africa's tower assets. Excluding exceptional items, underlying net profit for the three months to June grew 2 percent. This would have grown 5 percent on a constant currency basis. The Group's operating revenue rose 2 percent year-on-year to SGD 4.21 billion, while EBITDA slightly decreased by 1 percent. In constant currency terms, operating revenue would have grown by 8 percent and EBITDA by 5 percent.