Bahrain’s incumbent telecom operator, Batelco, posted a net profit of 13.31 million dinars ($35.29 million) in the three months to June 30, a rise of 27.5% compared to the same period last year.
The telco, whose home telecommunication market is the most competitive in the region, attributed the profit growth to cost savings, a higher yield on invested cash and lower interest expenses.
The operator’s revenues dipped to 92.1 million dinars from 97.0 million in Q2 2014, which the company blamed on "competitive pressures in key markets" and adverse foreign currency movements, Reuters reported.
For the half year Batelco posted a net profit of 27.54 million dinars, up from 24.90 million a year earlier.
Its board approved paying an interim dividend of 0.010 dinars per share.
In Bahrain Batelco competes with rival telcos Zain and Viva, as well as with numerous ISPs.