Etisalat sees net profits increase 5% to Dh2.2 billion

Dubai: UAE state-owned telco Etisalat booked Dh2.2 billion in first quarter net profits, while marginally growing its subscriber base by 2 per cent to 143 million.

The group said on Tuesday that it had recorded Dh13 billion in revenues for the first three months of 2019, posting a 5 per cent year-on-year increase in net profit to Dh2.2 billion.

This represented a net profit margin of 17 per cent, the company added.

According to the results, Etisalat’s consolidated EBITDA (earnings before interest, tax, depreciation and amortization) totalled Dh6.6 billion, representing an increase of 2 per cent year-on-year and reflecting an EBITDA margin of 51 per cent.