Batelco Q1 net profit rises 8pc

April 30, 2014 - 2:42:58 pm

MANAMA: Bahrain Telecommunications Co., (Batelco) posted an 8 percent rise in first-quarter profit on Wednesday. 

The former monopoly, which had reported declining profits in 16 of the previous 18 quarters and went nearly a year without a permanent chief executive, made a net profit of 14.5 million dinars ($38.46 million) in the three months to March 31, up from 13.4 million dinars in the year-earlier period. 

One analyst polled by Reuters forecast Batelco's quarterly profit would be 12.4 million dinars. (Reuters)