Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) released its financial results for the three-month period that ended on 30 June 2023, reflecting a 31.20% increase in net profit.
The DFM-listed firm logged net profits amounting to AED 397 million in the second quarter (Q2) of 2023, compared to AED 303 million in Q2-22.
Revenues hit AED 3.34 billion during the April-June 2023 period, up 6.70% year-on-year (YoY) from AED 3.13 billion.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 20% YoY to AED 1.52 billion in Q2-23 from AED 1.26 billion.
Fahad Al Hassawi, CEO of du, highlighted: “The strong demand for our Unlimited Data Power Plans, has allowed us to add 13,000 mobile postpaid customers during this period.”
“We have consistently expanded our broadband customer base by acquiring over 5,000 home wireless and fibre clients, demonstrating our ability to excel in a rapidly evolving business environment,” Al Hassawi noted.
He concluded: “Our strategic, commercial, and investment initiatives have yielded a high growth of 8.9% in our service revenues, making a significant contribution to our improved EBITDA and overall profitability.”
Dividends
Malek Al Malek, Chairman of du, announced: “The board of directors approved an interim half-year cash dividend distribution of AED 0.13 per share.”
As of 31 March 2023, du registered AED 370.48 million in net profit, higher by 19.10% YoY than AED 311.18 million.
