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Wed 2 Nov 2016 03:28 PM

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Bahrain's Batelco sees 26% slump in Q3 net profit

Telecoms operator says it made net profit of $26m in the three months to September 30

Bahrain's Batelco sees 26% slump in Q3 net profit

Bahrain Telecommunications Co (Batelco) posted a 26.9 percent fall in third-quarter profit on Wednesday.

The telecoms operator reported net profit of 9.8 million dinars ($26 million) in the three months to September 30, according to the company's financial statement, compared with a profit of 13.4 million dinars a year earlier.

It also posted net profit of 32.5 million dinars in the first nine months of 2016, down from 40.9 million dinars a year earlier.

Batelco said its operational performance during the first nine months of 2016 reflected the "intense competition" faced across the company. 

It added that overall subscriber numbers fell by 6 percent year on year, mainly as a result of decreases in Batelco Bahrain and Sabafon mobile subscribers due to market pressure. However Broadband subscriber numbers increased by 16 percent.

* With Reuters

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