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Etisalat third quarter profit rises by 15pc
DUBAI — Etisalat, the third-largest Arab phone company, increased third-quarter profit by 15 per cent, as it added more subscribers in the United Arab Emirates.
Nine-month net income advanced to Dh5.5 billion ($272 million) and sales rose 30 per cent to Dh15.3 billion, Etisalat said in an e-mailed
statement yesterday. This equates to third-quarter net income of Dh1.8 billion up from Dh1.5 billion a year earlier, according to Bloomberg data.
The result was lower than HC Brokerage's estimate of a 24 per cent increase for the quarter. Etisalat has 6.2 million mobile-phone subscribers in the United Arab Emirates, giving it a penetration rate of 147 per cent, the company said.
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