uae etisalat telecoms profit dives 40 in the second quarter
Saturday 26 July 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

UAE Etisalat telecom's profit dives 40% in the second quarter

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice UAE Etisalat telecom's profit dives 40% in the second quarter

UAE Etisalat telecom
Abu Dhabi - AFP

UAE telecom giant Etisalat said on Tuesday its net profit plunged 40 percent in the second quarter because of higher depreciation and the impact of its troubled Saudi unit Mobily.

Etisalat posted a consolidated net profit of 1.5 billion dirhams ($409 million) in the April to June period, compared with 2.53 billion dirhams ($689 million) in the same period last year, a company statement said.

"The decline in net profit after Federal Royalty is attributed to higher depreciation and amortisation charges, the impact of Mobily's additional provision... (and) incurring forex losses," it said.

Consolidated revenues in the second quarter, however, rose by 6.4 percent to $3.6 billion from $3.4 billion, said the company which serves 168 million clients in the Middle East, Asia and Africa.

Etisalat's net profit in the first half of 2015 also dropped 20 percent to $1.0 billion from $1.23 billion a year ago.

But its consolidated revenues in the first six months of the year rose 16.4 percent to $7.14 billion from $6.13 billion a year ago.

"This quarter's 6 percent increase in revenue is an indicator that Etisalat's long-term strategy for sustainable growth in our markets is the right approach, despite the decline in profit in Quarter 2," CEO Ahmad Julfar said.

Last year, the company's net profit surged 26 percent to $2.43 billion as Etisalat saw a hike in subscribers after acquiring a Morocco operator stake.

The UAE government, which owns a 60 percent stake in the company, decided to open it up to foreigners for the first time in June.

Etisalat had said the federal government had decided to allow foreign investors to buy 20 percent of the company's shares.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae etisalat telecoms profit dives 40 in the second quarter uae etisalat telecoms profit dives 40 in the second quarter

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae etisalat telecoms profit dives 40 in the second quarter uae etisalat telecoms profit dives 40 in the second quarter

 



GMT 10:18 2018 Thursday ,30 August

Iran incapable of closing Hormuz, Bab Al Mandeb

GMT 10:46 2012 Thursday ,16 February

BMW i8 The Best of the 2012 Detroit Auto Show

GMT 15:48 2018 Sunday ,21 January

Iraqi, Kurdish PMs try to resolve bitter dispute

GMT 06:15 2018 Tuesday ,09 January

Hollywood stars declare war on sexual misconduct

GMT 00:09 2017 Sunday ,29 January

Egypt working for Libya political solution, says FM

GMT 06:03 2017 Wednesday ,01 March

Saudi Aramco, Malaysian Petronas sign historic deal

GMT 13:55 2012 Sunday ,15 January

Youngest Microsoft professional dies

GMT 10:54 2016 Monday ,14 November

US elections have heightened uncertainty

GMT 10:49 2017 Wednesday ,20 September

Nabila describes mother’s death as the worst in life

GMT 00:24 2017 Saturday ,23 September

Gulf Air launches daily flights to Istanbul

GMT 14:50 2011 Friday ,24 June

Nelly Maqdasi sings for Arabs
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice