28 Jul 2016
United Arab Emirates (UAE)-based telecoms group Etisalat has reported a 51% jump in net profit for its second quarter to 30 June 2016, to AED2.32 billion (USD631 million). The rise was attributed to foreign exchange gains and lower finance costs and royalties. Revenues climbed 4.7% year-on-year from AED12.73 billion to AED13.33 billion. Domestic revenues were up 3% at AED7.7 billion, while sales at the group’s international operations dropped 1% to AED5.5 billion, with a positive performance at Maroc Telecom offset by unfavourable exchange rates in Egypt and Pakistan, and aggressive price competition in some markets.
In user terms, Etisalat’s top line subscriber figure was relatively unchanged y-o-y at 163 million across its 18 countries of operation. Its domestic customer total climbed 7% to 12.1 million.