Emirates Integrated Telecommunications Company (EITC), Du, has revealed a net profit of AED257 million ($70 million) for the first quarter of the year, down 27.6 percent from the AED355 million ($96.7 million) recorded for the same period in 2020.
Financial results showed revenues of AED2.88 billion ($784.2 million), which was 5.2 percent higher than the previous quarter, although it was 3.7 percent lower than the AED2.99 billion ($814 million) reported for the first three months of last year.
EBITDA stood at AED1.12 billion ($305 million), 8.7 percent higher than the previous quarter, while its capital expenditures reached AED568 million ($154.7 million).
Fahad Al Hassawi, acting CEO of EITC, said: “Our capital allocation plan is validated by encouraging broadband net-adds trends and sell-through of iPhone 12. We added 13,000 Broadband customers during the quarter, which is nearly as much as the annual net-adds in previous years.
“The new operating model seeks to deliver deeper and more personalised customer engagement, a faster go-to-market approach, and a purpose and performance driven culture. We are committed to investing in our customers and the UAE.”
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