Etisalat Q4 profit rises 70pc

March 04, 2014 - 2:19:33 pm

DUBAI: Etisalat, the United Arab Emirates No.1 telecom operator, reported a 70 percent rise in fourth-quarter profit on Tuesday. 

The former monopoly, which operates in about 15 countries across the Middle East, Africa and Asia, made a net profit of 1.45 billion UAE dirhams or $394.77 million in the three months to Dec. 31, according to Reuters calculations. 

This compares with a profit of 854 million dirhams a year earlier.

Etisalat's 2013 net profit was 7.08 billion dirhams, the government-controlled company said in a bourse statement on Tuesday, up from 6.74 billion dirhams in 2012. (Reuters)