UAE telco du posts 62% profit hike

UAE telecoms operator du said first quarter net profit before royalty increased 61.8 percent as mobile revenues more than doubled.

The Dubai-based service provider, also known as Emirates Integrated Telecommunications Co, said net income for the first three months of the year increased to AED666m (US$181 million) from AED412m a year earlier.

“We have achieved healthy growth in revenues, with strong performance from what we believe will be key drivers going forward, including mobile data revenue and our post-paid subscriber base,” Osman Sultan, CEO of du, said in a statement.

Mobile revenue grew 21.8 percent to AED1.9bn while total revenue increased 20 percent to AED2.4bn.