UAE’s Etisalat Group posts 6% growth in Q3 2020 consolidated net profit

UAE’s Etisalat Group posts 6% growth in Q3 2020 consolidated net profit

ABU DHABI “” UAE's Etisalat Group has reported consolidated net profits of AED2.41 billion for Q3- 2020, a 6 percent growth over the corresponding quarter of 2019.

According to the consolidated financial results released today by Etisalat Group, the company has generated revenues of AED38.64 billion in the January-September period of 2020, down 0.5% from AED 38.85 billion in the year-ago period.

The Group aggregate subscribers reached 149 million representing a year-on-year increase of 1 percent.

Consolidated earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to 6.9 billion dirhams, representing an increase of 2 percent YoY.

The acting CEO of Etisalat Group, Hatem Dowidar, commented: "Etisalat's performance in the third quarter exemplifies resilience in these uncertain times the world is going through."