Abu Dhabi – Mubasher: Emirates Telecommunications Group (Etisalat) posted an annual increase of 7.9% in net profits attributable to the shareholders during the first quarter (Q1) of 2021.

Etisalat’s earnings reached AED 2.34 billion in Q1-21, compared with AED 2.17 billion in Q1-20, according to the consolidated income statements.

Revenues stood at AED 13.21 billion in the three-month period that ended on 31 March 2021, compared to AED 13.11 billion in Q1-20.

The group’s customer base increased by 4% on an annual basis to reach 156 million subscribers until the end of March this year, of which 12.4 million are based in the UAE.

It is worth noting that the UAE telecom operator intends to issue bonds ahead of a EUR 1.2 billion ($1.45 billion) bond maturity in June.