Batelco announces 2020 Q3 financial results

Batelco announces 2020 Q3 financial results

Batelco announced its financial results for the first nine months of 2020 (the period) and for the third quarter of 2020, for the period ended 30 September 2020 (Q3). Batelco announced net profit attributable to equity holders of the company for Q3 2020 of BD14.4M (US$38.2M), a 41% increase from BD10.2M (US$27.1M) for the corresponding period of 2019.  Similarly, net profits attributable to equity holders of the company for the first nine months of 2020 of BD50.3M (US$133.4M) have increased by 14% from BD44.2M (US$117.2M) for the corresponding period in 2019.  The increase in net profit is mainly attributable to the 18% YoY decrease in operating expenses which is a testament to Batelco's successful cost containment programs.  Earnings per share (EPS) are 8.7 fils for the third quarter