Mubasher: Bahrain Telecommunications (Batelco) on Thursday reported a 13.6% year-on-year drop in profits in the second quarter of 2017, according to a statement.

The Bahrain-listed company achieved a profit of BHD 13.13 million ($34.6 million) in Q2-17 against BHD 15.20 million ($40.04 million) in Q2-16.

Batelco attributed the decline in profits to the 1% shortfall of revenues in Q2-17 from the corresponding period of 2016.

According to the company's budget, the operating expenses rose to BHD 34 million in Q2-17 from BHD 32.6 million in Q2-16.

The telecommunication company's profits fell 14% to BHD 8.2 million in Q1-17 against BHD 9.6 million in Q1-16.

In the first half of 2017, the company’s profits retreated 13.5% at BHD 23.74 million against BHD 27.45 million in H1-16.

Batelco's board of directors on Thursday decided to distribute cash dividends of 10 fils per share to shareholders for H1-17.