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du records lower profits in 9M, higher revenues

du records lower profits in 9M, higher revenues
The company's revenues increased to AED 8.612 billion
3.69% 6.47 0.23

Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) reported net profits of AED 780.23 million during the first nine months of 2021, down from AED 1.394 billion in the corresponding period of 2020, according to the company's consolidated financials for the nine-month period ended 30 September 2021.

The company's revenues increased to AED 8.612 billion in the January-September period of 2021 from AED 8.343 billion in the year-ago period.

The basic and diluted earnings per share (EPS) settled at AED 0.17 in the first nine months of 2021, versus AED 0.31 in the same period of the earlier year.

During the third quarter (Q3) of 2021, the company's reported net profits slipped by 65.6% to AED 283.23 million, compared to AED 824.141 million in the same quarter of 2020.

Meanwhile, the earnings before interest, tax, depreciation, and amortisation (EBITDA) declined by 4.9% year-on-year (YoY) to AED 1.1 billion in Q3-21.

Commenting on the company's performance, the CEO of du, Fahad Al Hassawi, said: "The refreshed prepaid mobile tariffs are pushing gross-adds on the prepaid segment towards pre-pandemic levels. Our enhanced postpaid tariff plan is stimulating usage and supports a pathway to ARPU growth."

Meanwhile, Al Hassawi added: "Following two years of capital deployment, I am pleased to announce that our 5G network is now accessible to 90% of the population. The next milestone is to ultimately ensure seamless access for all residents."

It is noteworthy to mention that during the first half (H1) of 2021, du reported a decline in net profits to AED 496.997 million, compared to AED 570.411 million in the same half of 2020.