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Tuesday, 25 April 2017

Etisalat posts Dh2.1b in net profit in the first quarter of 2017 | GulfNews.com

Etisalat posts Dh2.1b in net profit in the first quarter of 2017 | GulfNews.com:

"The net profit of Etisalat grew by 5 per cent in the first quarter of 2017 to Dh2.1 billion when compared to Dh2 billion during the same period last year. However, consolidated revenue for the first quarter of 2017 amounted to Dh12.5 billion representing a decline of 3 per cent in comparison to the same period last year due to unfavourable exchange movements mainly in Egypt, the company said in a statement on Tuesday. In the UAE, revenue in the first quarter increases year on year by 5 per cent to Dh7.6 billion as a result of growth of the subscriber base with increased bundle propositions and strong performance of eLife segment. The company attributed increase in profit to lower depreciation and amoritisation, lower forex losses and lower royalty charges that was partially offset by higher share of losses from associates and higher net finance costs."



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