MobiNil reports 15% net income rise for 3Q

3 Nov 2008

Egypt’s largest mobile operator by subscribers, MobiNil, has reported a net income for the three months ended 30 September 2008 of EGP541 million (USD99.05 million), a rise of 15% compared to the same period last year. Earnings before tax, interest, depreciation and amortisation (EBITDA) also rose for the quarter, up 29% to EGP1.273 billion. Subscribers for the cellco also increased, with MobiNil’s customer base reaching 18.91 million at the end of September.

The cellco has also revealed that it will take legal action, following a decision by the Egyptian regulator, the National Telecommunications Regulatory Authority (NTRA), to alter interconnect prices between fixed and mobile networks following a dispute between MobiNil and state-owned fixed line provider Telecom Egypt.

Egypt, Orange Egypt