Dubai telecom du posts AED 319 mn in Q3 net profit
Dubai telecom operator du reported a 12.7 percent increase in its third-quarter net profit as service revenue and gross margins rose. Profit for the three months ended September 30 increased to 319 million dirhams ($86.8 million) from 283 million dirhams a year earlier, the company said in a filing to the Dubai Financial Market (DFM).
Revenue rose 10.5 percent annually to 3.17 billion dirhams, from 2.87 billion dirhams, as the company sustained demand for its broadband and mobile services, it said.
Earnings before interest, taxes, depreciation, and amortization (EBTIDA) grew by 18.5 percent to 1.3 billion dirhams, from 1.1 billion dirhams a year ago, while capital expenditure surged 93.5 percent annually to 724 million dirhams, from 374 million dirhams.
For the nine months to September 30, net profit rose more than 18 percent to 922.4 million dirhams, from 780.2 million dirhams a year earlier, while revenue climbed 9.3 percent to 9.4 billion dirhams, from 8.6 billion dirhams.