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Emirates Integrated Telecommunications Company (Du) posted a 26.2% rise in net profit for the second quarter of the year after expanding its customer base to more than seven million subscribers and generating AED196 million ($53.36 million) in handset sales.
Net profit for the quarter ending June 30, 2022 reached AED303 million), while revenues stood at AED3.14 billion, up by 9.9 percent, the telecom operator said in a statement to the Dubai Financial Market (DFM) on Friday.
Earnings were also driven by fixed services, which generated revenues of AED855 million, up by 24.4%. Overall, service revenues jumped by 14.% to AED2.261 billion.
The company's mobile customer base went up by 13% to 7.4 million subscribers. Among the new customers added, 24,000 signed up for postpaid services, bringing the subscribers in the segment to 1.4 million.
At the end of the quarter, the number of prepaid customers stood at 6.1 million. However, du noted that the prepaid visitor customer base had "tapered" after Expo 2020 ended and due to the "low tourist season".
Du's consumer broadband customer base rose sharply by 69.5% to 473,000, with at least 35,000 new customers signing up.
The strong performance, Du siad, is due to a combination of connecting new premises to its fiber network and competitive commercial offering.
(Reporting by Cleofe Maceda; editing by Seban Scaria )
