Monday, June 17, 2024

Emirates Integrated Telecom’s net profit has risen to a three-year high

Date:

Emirates Integrated Telecom has achieved a record 57.7% growth in its net profit, reaching 504 million dirhams in its financial results for the third quarter ended September 30, 2023, the highest level of quarterly profit recorded by the company. In the last three years.

As a result of continued demand for mobile and fixed postpaid services, the company recorded a 5.5% growth in service revenue, contributing to an increase in total revenue to AED 3.3 billion. The company’s earnings before interest, taxes, depreciation and amortization rose 13.8% to 1.48 billion dirhams, and free cash flow from operations rose 65.1% to 956 million dirhams.

Mobile customer base grew by 9.4% year-on-year to reach 8.1 million subscribers, with innovative products, services and solutions contributing to customer retention and attracting new ones. Rising demand from the corporate sector for mobile services, in addition to continued growth in the individual customer segment, led to the ninth consecutive quarter of new subscriber growth in the postpaid services segment by 32,200 new subscribers. Total number of subscribers to paid services. Al-Ajel reaches 1.6 million subscribers. The prepaid customer base also grew by 9.2% year-on-year to reach 6.5 million customers at the end of the third quarter, as a result of the outstanding services and offerings offered by the company.

The fixed-line customer base continued to grow in double-decimal places, reaching 573,000 broadband customers. This is due to the company’s unique strategy for broadband services, which revolves around providing diverse, high-quality communication services and solutions tailored to customers’ aspirations and meeting their diverse needs. Customer growth was up 12.4% on an annualized basis and attracted over 13,000 new subscribers in the third quarter.

See also  Oil has been falling due to a stronger dollar and worries about demand in China

Revenue from mobile services continued to grow at a steady pace, increasing by 5.7% to reach 1.525 billion dirhams, while revenue increased by 3.7% to 3.291 billion dirhams.

Revenue from fixed telephone services was 939 million dirhams, registering another quarter of continuous growth with an increase of 5.3%. Overall, service revenues increased by 5.5% to 2.464 billion dirhams, while other revenues decreased by 1.5% to 827 million dirhams, due to lower revenues from foot crossing services and sales of smart devices. Revenue from roaming services was offset by growth.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

The easiest way to access the best UAE stocks

The most common way to invest in the UAE...

The Rising Demand for Model Ships in Dubai

Dubai, known for its stunning architecture and vibrant economy,...

Exhibition Stand Builders in Dubai

Dubai, a global hub for trade and commerce, is...

Unlocking the Power of Booking Engines in the Hospitality Industry

In an era dominated by technology, the hospitality industry...