Batelco’s profit to go down due to Indian unit

23 Apr 2011

(MENAFN) Bahrain Telecom (Batelco) CEO, Peter Kaliaropoulos, said that profit in 2011 would drop by nineteen percent due to the costs of establishing Batelco’s new unit in India, in addition to competition in Bahrain, reported Arabian Business.

The CEO sadi that the company had planned the Indian unit in order to counter the smaller market shares it has locally.

Batelco had earlier this month revealed that net profit in 2010 hit USD230.2 million. The company said that in 2010 the company also suffered from a year-on-year drop in profit due to the emerging of a new operator in the Bahraini market, thus reducing Batelco’s market share.

As for the impact of the recent political unrest in the Kingdom on the company’s business, the CEO said that the company’s finance’s went back to recovery after March.

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