UAE Etisalat’s net profit down 9% to AED 2 bln in Q3-2015

UAE’s Emirates Telecommunications Group (Etisalat) reported a consolidated net profit after federal royalty of AED 1.95 billion in the third-quarter, with a nine percent decline year-on-year (YOY), the telecoms operator said in a statement on Abu Dhabi Securities Exchange (ADX) where it is listed.

The net profit drop was attributed to lower overseas revenue that contracted nine percent YOY to AED5.7 billion and higher operating expenses that increased four percent YOY to AED 8.2 billion for the same period.

Capital spending rose five percent YOY to AED 1.9 billion, accounting for 15 percent of the quarterly total revenue.

Consolidated revenue slipped one percent YOY to AED 12.99 billion.