UAE telco Etisalat reports 6% rise in net profit for Q3 2020

UAE telco Etisalat reports 6% rise in net profit for Q3 2020

UAE telecom operator has reported Dhs2.4bn in consolidated net profit after federal royalty for Q3 2020, marking a 6 per cent rise year on year.

The telco also reported a net profit margin of 18 per cent.

Etisalat's consolidated revenue for Q3 2020 amounted to Dhs13bn, reporting an increase of 0.5 per cent year over year. Meanwhile, EBITDA (earnings before interest, taxes, depreciation and amortization) for the third quarter of this year increased 2 per cent year-on-year, equalling Dhs6.9bn.

Its aggregate subscriber base reached 149 million, representing a year over year increase of 1 per cent. However, its consolidated capital spending decreased by 17 per cent to Dhs1.5bn, representing 12 per cent of the consolidated revenues.

Earlier this year, Etisalat has fully acquired cyber security specialist firm Help AG.

Read: UAE telco Etisalat acquires cyber