Abu Dhabi - Mubasher: Emirates Telecommunications Group (Etisalat) announced achieving 16% year-on-year growth in net profits in the third quarter of 2016, according to a press release.

Profits reached AED 1.9 million ($517 million) compared to AED 1.3 million ($353 million) in the same quarter last year.

In August, Etisalat sold its 92.3% stake in the Sudanese fixed-line operator Canar to Bank of Khartoum for around AED 350 million.

The telecom giant also reported a 9% increase in profits in the first nine months of 2016 to AED 6.2 billion, according to the company’s statement.