International ops drive 2% rise in Etisalat Q1 revenue

24 Apr 2012

In a statement to the Abu Dhabi Securities Market, Emirates Telecommunications Corporation (Etisalat) has reported consolidated revenue of AED8.205 billion (USD2.23 billion) for the three months ended 31 March 2012, an increase of 2% year-on-year. Turnover generated by the company’s international business totalled AED2.275 billion in the first quarter of 2012, an increase of 21% compared to the AED1.875 billion reported in the year-ago quarter, helping to offset a 3% decline in domestic revenue, which fell to AED6.085 billion due to rising competition in its home market from rival Du. Etisalat said net profit attributable to the shareholders of the company totalled AED1.809 million, down slightly from AED1.817 billion in the first quarter of 2011. The company, which is 60%-owned by the UAE government, operates in 17 markets across the Middle East, Africa and Asia. Earlier this year the company announced its withdrawal from India, after the country’s Supreme Court cancelled 122 2G operating licences, including that of Etisalat DB (formerly known as Swan Telecom), in which Etisalat owns a 45% stake.

United Arab Emirates, Etisalat UAE