Etisalat’s second-quarter net profit rises on higher revenue

Etisalat’s second-quarter net profit rises on higher revenue

Etisalat, the UAE’s biggest telecoms operator, reported a slight increase in second-quarter net profit on the back of higher revenue.

The total net profit attributable to owners of the company for the three-month period ending June 30 climbed to Dh2.39 billion ($650 million) from Dh2.38bn during the same period last year, the company said in a statement on Thursday to the Abu Dhabi Securities Exchange, where its shares trade.

Net profit in the first six months climbed nearly 4 per cent to Dh4.7bn from the same period a year earlier, as revenue grew more than 3 per cent to Dh26.43bn.

Revenue during the second quarter jumped 5.7 per cent year-on-year to Dh13.21bn. Impairment dropped 25 per cent to Dh246.6m.