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Emirates Integrated Telecommunications Company (du) reported a 21 percent increase in net profit for the first quarter of 2022 on higher revenues, as it continued to drive growth in customers and handset sales.
Net profit for the three months ending March 31 reached 311 million dirhams ($84.6 million), while revenues grew 8.5 percent to 3.128 billion dirhams on sustained demand for broadband and mobile services, the telecom operator said in a statement on Thursday.
Mobile, broadband subscribers
The company said it ended the quarter with 7.5 million mobile subscribers on healthy net-additions across its postpaid and prepaid segments.
As for the broadband segment, the telecom operator attracted 48,000 new customers, ending the quarter with 439,000 broadband users, representing a 76.7 percent increase year-over-year.
Mobile services revenues increased 6.9 percent to 1.402 billion dirhams, while handset sales generated 216 million dirhams in revenues.
Fixed services revenues jumped 22.8 percent to 815 million dirhams on the back of sustained demand from consumer and enterprise customers. Overall, service revenues grew 12.2 percent to 2.217 billion dirhams.
(Reporting by Cleofe Maceda; editing by Anoop Menon)
