UAE's Etisalat Q3 profit falls on higher capital expenditure | Reuters

UAE's Etisalat Q3 profit falls on higher capital expenditure | Reuters:

Emirates Telecommunications Group (Etisalat) on Thursday reported a 4.2 percent drop in third-quarter net profit, hit by increased capital expenditure.

Etisalat made a net profit of 2.3 billion dirhams ($626 million) in the three months to Sept. 30, it said in a bourse filing. That compared with 2.4 billion dirhams in the same period last year.

SICO Bahrain had forecast that Etisalat would make a quarterly net profit of 2.1 billion dirhams.