Dubai: Emirates Integrated Telecommunications Company PJSC (du) reported a 24 per cent decrease in net profit after royalty to Dh364.9 million in the first quarter of this year compared to Dh480.1 million a year ago.
The telecom operator’s net profit before royalty fell by 16.7 per cent to Dh851.2 million compared to Dh1.02 billion in the first quarter of last year.
Revenues for the first quarter increased by 2.5 per cent to Dh3.17 billion compared to Dh3.09 billion a year ago.
“Despite challenging market conditions, we made steady progress on the implementation of our strategy of customer experience improvement and digital transformation,” Osman Sultan, EITC’s Chief Executive Officer, said in a statement.
He said that revenue grew at a steady pace, underpinned by an increase in our fixed line business, offsetting pressure on mobile revenue during the quarter.
“We continued our focus on identifying efficiencies during the quarter, which will enable us to deliver long-term value for our stakeholders,” he said.
