41.6% growth in the net income of Emirates Integrated Telecommunications in the third quarter

The revenues of "Emirates Integrated Telecommunications" rose to 2.69 billion dirhams.

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Emirates Integrated Telecommunications Company announced yesterday its financial results for the third quarter of 2020, recording strong growth of 41.6% on a quarterly basis in its adjusted quarterly net income, and a growth of 116.2% on an annual basis in its net income quarterly, as a result of strategies and programs The actors carried out by the company during the last period, which contributed to improving the performance of its operations, in addition to the company achieving capital gains, through the sale of its stake in Khazna Data Center.

The company announced a remarkable recovery in its quarterly revenue growth of 0.7%, compared to the previous quarter, in addition to injecting vital investments worth 511 million dirhams, which reflects the company's success in continuing to implement its ambitious investment plans.

The revenues of Emirates Integrated Telecommunications Company during the third quarter of this year increased by 0.7%, compared to the second quarter, to reach 2.69 billion dirhams, reflecting the first signs of recovery in economic activity and the recovery of the tourism sector in the UAE.

Mobile phone services revenues in the third quarter of 2020 grew by 2%, to reach 1.33 billion dirhams, compared to 1.31 billion dirhams in the second quarter of this year. This growth is due to a combination of factors, including the increase in the base Mobile subscribers by 2.8%, to 6.59 million subscribers, as well as an increase in average revenue per user.

Revenue from fixed line services in the third quarter was 637 million dirhams, reflecting little stability, compared to the previous quarter.

The fixed-line subscriber base continued its gradual growth to reach 228,000 subscribers by the end of the third quarter, which led to an increase in fixed line revenues during the first nine months of 2020 by 4%, compared to the same period in 2019, to reach 1.92 billion dirhams.

The performance recorded by the fixed-line services sector reflects the healthy increase in the subscriber base, driven by the demand for home calling requirements and services in the current year.

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