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