UAE's Etisalat posts $570m Q1 net profit, up 5%

Telecoms operator also says that its total subscriber base reaches 159 million users
UAE's Etisalat posts $570m Q1 net profit, up 5%
By Staff writer
Tue 25 Apr 2017 02:19 PM

Abu Dhabi-based telecoms operator Etisalat on Tuesday announced that its consolidated net profit after federal royalty rose 5 percent to AED2.1 billion ($570 million) in the first quarter of 2017.

Aggregate subscriber base reached 159 million while consolidated revenues totalled AED12.5 billion, the telco said in a statement.

Saleh Al Abdooli, Etisalat Group CEO said: “Etisalat has delivered a strong performance in the first quarter, a reflection of its strategy demonstrating Group’s ability to sustain momentum in spite of vastly changing global industry trends.

"Etisalat has continued its efforts to align its business with the digital mandate it undertaken, by shifting the operating model, investing in future technologies, and by acquiring and disseminating digital capabilities across its operations.

"This would allow Etisalat Group to generate new revenue streams, enrich its business, and provide unique and innovative propositions that would exceed the expectations of customers and support governments and enterprises in building smarter communities.

"As a group, we remain focused on maximizing shareholders’ value, and on our customers who inspire us to explore new arenas and cross new heights.”

In the UAE, the active subscriber base grew to 12.5 million in the first quarter of 2017 representing a year on year growth of 4 percent, the company said in the statement.

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