Etisalat’s first-quarter profit rose 5 per cent in the first three months of the year, as lower operating costs offset falling revenues outside the UAE.
The operator’s net income grew to Dh2.1 billion for the first quarter, compared with Dh2bn for the same period last year, even as total revenues fell 3.1 per cent over the period.
Operating expenses meanwhile fell 7.5 per cent year on year to Dh8bn, thanks to lower network costs and lower depreciation and amortization expenses.
"Etisalat has delivered a strong performance in the first quarter, a reflection of its strategy demonstrating Group’s ability to sustain momentum in spite of vastly changing global industry trends," said Etisalat’s Group chief executive Saleh Al Abdooli.
"As a group, we remain focused on maximizing shareholders’ value, and on our customers who inspire us to explore new arenas and cross new heights."
Etisalat’s UAE operations saw revenues rise 5 per cent to Dh7.6bn, thanks to growth in the e-Life and mobile segments. UAE subscribers grew 4 per cent year on year to 12.5 million.
Revenues across the operators non-UAE footprint meanwhile fell by 14 per cent to Dh4.7bn, due to competitive pressures in markets such as Morocco and Pakistan, together with the impact of Egypt’s currency devaluation last November.
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