Abu Dhabi – Mubasher: The net profits of e& jumped year-on-year (YoY) to AED 2.45 billion in the first quarter (Q1) of 2024 from AED 2.30 billion.

The telecom group posted revenues valued at AED 14.21 billion in Q1-24, marking an annual increase of 9% from AED 13 billion due to growth across domestic and international operations.

Basic and diluted earnings per share (EPS) went up to AED 0.27 as of 31 March 2024 from AED 0.25 a year earlier, according to the consolidated financial results.

In the first three months (3M) of 2024, the total assets hit AED 147.65 billion, higher than AED 146.90 billion at the end of December 2023.

The ADX-listed company delivered strong performance attributed to its resilient domestic performance and surge in international as well as digital operations.

Hatem Dowidar, Group CEO of e&, commented: “e&’s robust performance in Q1, with consolidated revenue growth of 9% to AED 14.21 billion while consolidated EBITDA reached AED 6.40 billion, grew 3% YoY.”

Dowidar added: “This is a testament to the strategic choices we’ve made in diversifying our portfolio, fortifying our brand, and cementing partnerships in our unrelenting efforts to digitally empower the people and communities we serve while maximising value creation for our shareholders.”

In the January-December 2023 period, e& witnessed 3% YoY higher consolidated net profits attributable to the owners at AED 10.30 billion, versus AED 10 billion.