Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) generated net profits worth AED 1.27 billion during the first nine months (9M) of 2023, marking a growth from AED 933.33 million in 9M-22.
The earnings per share (EPS) went up to AED 0.28 in 9M-23 from AED 0.21 in the same period a year earlier, according to the consolidated income statements.
The UAE telecom operator recorded revenues amounting to AED 10.07 billion during the January-September 2023 period, higher than AED 9.43 billion in 9M-22.
As of 30 September 2023, the total assets reached AED 16.44 billion, compared with AED 16.56 billion at the end of December 2022.
Increase in Q3-23 Profits
During the third quarter (Q3) of 2023, du witnessed a 57.70% annual increase in net profit to AED 503.75 million from AED 319.34 million.
The EPS also rose to AED 0.11 in Q3-23, compared with AED 0.07 in Q3-22.
In addition, the company saw a 3.70% year-on-year (YoY) growth in revenue to AED 3.29 billion from AE 3.17 billion.
The CEO of du, Fahad Al Hassawi, said: “We were able, once again, to deliver an excellent quarter recording growth on all our financial and operational KPIs and to report the highest quarterly net income over the last three years.”
Al Hassawi added: “During this quarter [Q3-23], we have been very active pushing further the deployment of our 5G network which reached 98.50% coverage and is now transporting significant part of our traffic.”
The official concluded by saying: “We continue to invest in our IT infrastructure and 5G rollout to enhance our customer experience and to create and unlock shareholder value while conducting our transformation journey towards a leading digital telco.”
In the previous quarter, Q2-23, the telecom company achieved net profits worth AED 397 million as well as revenues of AED 3.34 billion.
