UAE telecom operator du said its first-quarter net profit more than doubled, beating analysts forecasts, after the company added more customers during the quarter and continued to invest in infrastructure.
The firm, which now has an estimated 40 percent share of the UAE mobile market, reported a first-quarter net profit of 205.8 million dirhams ($56.03 million) after providing for royalties, up from 97.1 million dirhams in the year-earlier period, it said on Monday.
Analysts polled by Reuters on average had expected the firm to post a quarterly net profit of 203.7 million dirhams for the first-quarter.
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