Batelco Q3 net profit up 4% to $43.2mln

Batelco Q3 net profit up 4% to $43.2mln

Bahrain - Batelco, Bahrain’s leading telecom provider, has announced a net profit attributable to equity holders of BD16.3 million ($43.2 million) for Q3 2022, a 4% increase from BD15.7 million ($41.6 million) for the corresponding quarter of 2021.

Earnings per share (EPS) was 9.8 fils for the third quarter of 2022 compared to 9.5 fils in Q3 2021.

Total comprehensive income attributable to equity holders in Q3 2022 was reported at BD10.5 million, a 22% decrease from BD13.4 million in the third quarter of 2021, mainly due to the impact of foreign currency translation differences as a result of the devaluation of the British Pound, the company said.

Revenues for Q3 2022 of BD100.6 million ($266.8 million) are up by 2% compared to BD98.2 million in Q3 2021. Operating profit for the third quarter of 2022 increased by 5% to BD22.8 million from BD21.8 million in Q3 2021, while EBITDA stands at BD40.1 million in Q3 2022 compared to BD40.6 million in Q3 2021, a decrease of 1%.

For the first nine months of 2022, net profit attributable to equity holders of the company of BD54.1 million ($143.5 million) increased by 2% from BD53.2 million in 2021. Earnings per share (EPS) are 32.8 fils