Bahrain Telecommunications Co reported a 10th profit drop in 11 quarters on Tuesday as domestic competition and one-off charges from a cost-cutting programme hurt the bottom line.
The former monopoly, commonly known as Batelco, made a net profit of 17.75 million dinars ($47.1 million) in the three months to Dec. 31, down from 23.5 million dinars in the year-earlier period, according to Reuters calculations.
Two analysts polled by Reuters forecast Batelco would make a quarterly profit of 38.05 million dinars.
UPDATE 1-Bahrain's Batelco profit slumps on competition, charges | Reuters
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