Dubai telecom operator Du posts net profit jump of AED 311 mn
Emirates Integrated Telecommunications Company (Du) announced its financial results for Q1 of 2022, ending on March 31, 2022.
Net profit jumped 21% percent to AED311 million ($84.6 million).
Operating Free Cash Flow (OFCF) grew 75 percent to AED964 million thanks to higher earnings before interest, taxes, depreciation, amortization (EBIT) DAand OFCF spend which is beginning to normalize following two consecutive years of high capital intensity.
Revenues grew by 8.5 percent to reach AED3.1 billion on sustained demand for broadband and mobile services.
EBITDA grew by 13.3 percent to AED1.3 billion on higher service revenues.