Etisalat profit up 5% to Dh2.1 billion

Abu Dhabi - The active subscriber base grew to 12.5 million by registering a growth of 4 per cent.

Etisalat Group on Tuesday its consolidated first-quarter net profit after federal royalty rose 5 per cent to Dh2.1 billion despite vastly changing global industry trends.
In a statement, the Abu Dhabi-based telecom provider said it's the group's consolidated revenue in 2017 January-March quarter amounted to Dh12.5 billion while in the UAE revenue rose by 5 per cent to Dh7.6 billion. The company's earnings per share amounted to Dh0.24, reflecting an increase of 5 per cent from the same period last year.   
The region's leading telecom company, which is the first telco in UAE' to achieve ISO 20000 certification, said its aggregate subscribers base reached at 159 million across its key markets during January-March quarter. In the UAE, the active subscriber base grew to 12.5 million by registering a growth of 4 per cent.
Maroc Telecom subscriber base reached 54.5 million customers, representing a year-over-year increase of 3 per cent.
Saleh Al Abdooli, Etisalat Group CEO, said etisalat has delivered a strong performance in the first quarter, a reflection of its strategy demonstrating group's ability to sustain momentum in spite of vastly changing global industry trends.
"The digital evolution is the future, and the telecom operators are the key players to enable the transition and be the exemplary adopters of the digital transformation, while harvesting its benefits in the form of improved products and services, faster time to market, enhanced customers' experience, and enriched smart living," he said.
"We are proud to be one of the most valuable telecom brands in the Middle East, and we are comfortable with the achievements and synergies that were attained at the group scale. We see positive prospects across the majority of the markets we operate in that we are determined to capture and seize," he added.
The company further said its operating expenses dropped by 7.5 per cent to Dh8 billion due to lower network costs, less depreciation and amortisation expenses.
-    business@khaleejtimes.com