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Tue 23 Jul 2013 02:09 PM

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Etisalat posts 6% rise in Q2 net profit

UAE's No 1 telecoms operator says international revenues grow by 50%

Etisalat posts 6% rise in Q2 net profit

Etisalat, the UAE's No 1 telecoms operator, said on Tuesday that consolidated net profit after royalties increased six percent to AED1.97bn ($536m) in the second quarter of 2013.

The company said in a statement that revenue grew 20 percent to AED9.9bn in the same period compared to Q2 last year while revenue from international operations grew by 50 percent.

The statement also said that Etisalat's aggregate subscribers grew to 143 million.

Etisalat said in the UAE, revenues of AED6.303bn for the quarter were 12 percent higher than in the second quarter of 2012 and five percent higher than the previous quarter.

The company said the growth in revenues was primarily due to customer acquisition and an increase in the revenues of data and handsets sales.

Revenue from international consolidated operations grew by 50 percent to AED3.513bn, representing 36 percent of consolidated revenues.

Ahmad Abdulkarim Julfar, CEO of Etisalat Group, said: "The outstanding performance of Etisalat UAE and the positive performance in Asia are reflected in our Q2 results.

"These results demonstrate that Etisalat Group is absolutely on the right track and able to continue to add value to its subscribers, shareholders, employees and the communities it serves."

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