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FINANCIAL NEWS
UAE’s du reports USD89m profit in Q3
22 Oct 2012
(MENAFN) Emirates Integrated Telecommunications Company (du) posted a 34 percent increase in quarterly profits, despite increasing margins and adding new mobile and fixed line customers, Reuters reported.
The No.2 telecoms operator in the UAE said it earned USD89 million net profit after royalty during the third quarter, up from USD66.5 million a year earlier.
du provisions to pay 50 percent of its profits in royalties – or taxes – to the federal government, with the government usually deciding the actual royalty rate after the financial year has ended.
du’s net profit margin before royalty was 25.9 percent in the third quarter, up from 21.9 percent a year ago.
The company also reported USD685.9 million revenue during the quarter, up from USD606.95 million in the same period last year.
du’s revenue from mobile data business nearly doubled to USD87.9 million from a year earlier.
The company said total mobile revenue grew by 13 percent to USD528 million during the quarter, representing three-quarters of du’s total revenue.
du’s mobile subscribers base grew by 227,800 to a total of 5.96 million in the quarter, while its market share was unchanged from 46.5 percent in the second quarter
The operator’s fixed subscribers stood at 555,000 at quarter-end, up 1.5 percent from the previous quarter.
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