Etisalat’s Q1 profit rises 5pc

24 April, 2019 12:00 AM printer

DUBAI: Etisalat, the UAE’s biggest telecom operator, posted a 5 per cent year-on-year increase in first quarter net profit, as the company continued to attract more customers.

Net profit rose to Dh2.2 billion in the first three months of the year, the company said on Tuesday in a regulatory filing with the Abu Dhabi Securities Exchange where its shares are traded, report agencies.

Revenue in the period declined 1 per cent to Dh13bn from the year earlier period impacted by currency fluctuations in Pakistan and Morocco, the company said.

Etisalat, which had a monopoly in the UAE until du entered the market in 2007, is set to introduce ultra-high speed mobile broadband 5G services this year.