Bahrain-based Batelco Group has recorded a 60% year-on-year rise in net profit for Q1 2018. The company achieved net profit of BHD13.1 million (USD34.5 million) in the three months ended 31 March 2018, compared with BHD8.2 million in the corresponding year-ago period. The group also saw strong growth in gross revenue of BHD99.5 million in Q1 2018, up 11% from BHD89.7 million in the first quarter of 2017, attributed to strong performance in the group’s Bahraini and Jordanian markets. Batelco Group’s EBITDA for Q1 2018 stood at BHD36.6 million, up from BHD32.3 million one year ago, representing a strong increase of 13%.
Operationally Batelco Group recorded a total of 9.3 million subscribers at 31 March 2018, an increase from 9.2 million twelve months previously.