Etisalat Q3 net profit goes up 4% at Dhs2b

26/10/2017 05:39 AST

Etisalat Group on Wednesday announced its consolidated financial statement for the three months ending September 30, 2017.

According to results, consolidated net profit after Federal Royalty amounted to Dhs2.4 billion resulting in a net profit margin of 19 per cent and increased year over year by 29 per cent.

Group consolidated revenues amounted to Dhs12.9 billion. Etisalat's UAE revenues amounted to Dhs7.6 billion representing 3 per cent increase year over year.

Net profit amounted to Dhs2.0 billion representing 4 per cent increase year over year. Aggregate subscriber base reached 140 million. In the UAE, subscriber base reached 12.5 million representing Year over Year increase of 2 per cent. Meanwhile, Etisalat signed a strategic partnership as part of Dubai Future Accelerators programme to bring future medical care solutions to the UAE and Mena. Also the company has launched first IPX Exchange platform in MEA, which will augment its already existing SmartHub data centre services.

The announcement said that Etisalat successfully completes the fastest 5G live trial globally, reaching 71Gbps. Etisalat has already launched 4G service in Egypt.

In his message, Saleh Al Abdooli, Etisalat Group CEO said: "Etisalat continues to deliver solid performance in the third quarter, despite the prevailing global economic challenges and the vastly transforming industry. We are on the verge of entering a new era, which transcends any technological disruption we ever witnessed, and will be altering and reshaping our society and industry on a large scale.

"We always strive to remain one-step ahead and to harness the power of technology for the greater value of our customers and communities. Our digital agenda has enabled us to enhance our internal operations and widened the spectrum of our offerings. It remains the key driving force while we are probing the potential that emergent streams, as in Robotics and Artificial Intelligence, can bring to us.

The Gulf Today