EITC achieves 11.4% rise in Q2 profit; EDB reviews progress
- Date: 27-Jul-2021
- Source: Gulf Today
- Sector:Technology
- Country:UAE
EITC achieves 11.4% rise in Q2 profit; EDB reviews progress
Emirates Integrated Telecommunications Company (EITC), has published on Monday its financial results for the second quarter of 2021. The Dubai-based telecom major recorded a 11.4 per cent jump in Q2 net profit to Dh240 million.
The company reported that, during Q2 2021, its revenues reached Dhs2.855 billion, a 7 per cent increase year-on-year, while its EBITDA stood at Dhs1,130 million, a 7.3 per cent increase year-on-year and capital expenditures stood at Dhs649 million.
Mohamed Al Hussaini, Chairman of EITC, commented, "EITC had a solid performance during the second quarter. It is satisfying to see operating and financial metrics returning to growth. The company continues to deploy significant resources towards infrastructure expansion and modernisation. Fahad and his team have done a tremendous job repositioning the company for growth. The Board of Directors has great confidence in EITC's perspectives. We have approved an interim dividend of Dhs0.10 per share."
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