Batelco’s Q2 net profit surges 12%; revenue hits $261m

Batelco’s Q2 net profit surges 12%; revenue hits $261m

Bahrain's leading telecom services operator Batelco has announced a 12% growth in its net profit attributable to equity holders of the company for Q2 which soared to BD20 million ($53.1 million) from BD17.8 million ($47.2 million) last year mainly driven by revenues from international operations.

Announcing the results for the three-month period ended June 30, the revenue rose marginally to hit BD99.2 million ($263.1 million) from BD98.4 million ($261 million) in Q2.

The operating profit too increased by 4% to BD24.7 million ($65.5 million) from BD23.8 million ($63.1 million) last year, while ebitda stood at BD42.9 million ($113.8 million) in Q2, up 3% compared to BD41.7 million ($110.6 million) last year.

For the first six months of the year, Batelco said its profit attributable to equity holders rose to BD37.9 million ($100.5 million) from BD37.5 million ($99.5 million) in 2021. Earnings per share (EPS) stood at 22.9 fils for the period compared to an EPS of 22.7 for H1 2021.

According to Batelco, the total comprehensive income for H1 attributable to equity holders of the company plunged 46% from BD47.2 million ($125.2 million) last year to BD25.7 million ($68.2 million), mainly due to foreign exchange translation differences and investment fair value changes.

The telecom group's