Etisalat first-quarter profit rises 7.6%

Domestic revenue increased 11% to 7.2 billion dirhams
Etisalat Group's Chief Executive Officer, Ahmad Abdul Karim Julfar.
Etisalat Group's Chief Executive Officer, Ahmad Abdul Karim Julfar.

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Etisalat has reported a 7.6% rise in first-quarter profit. The telco made net profit of 2.18 billion dirhams ($593.6 million) in the three months to March 31, against 2.02 billion dirhams a year earlier, as the company stated.

Etisalat’s acquisition of 53% stake in the African operator for 4.14 billion euros last May have helped to rise the revenue by nearly a third and its subscriber base by a fifth.

Domestic revenue increased 11% to 7.2 billion dirhams, while international revenue augmented by 69% to 5.6 billion dirhams.

The operator works in 19 countries across the Middle East, Africa and Asia. Etisalat reported 173 million subscribers, up 19% from a year earlier.

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