Dubai – Mubasher: Emirates Integrated Telecommunications Company "du" on Tuesday reported an 18.9% decline in its profits for the first quarter of 2016 compared to figures recorded in the same period of 2016.
Profits stood at AED 368.17 million ($100.21 million) in Q1-17, down from AED 453.64 million ($123.48 million) in the year-ago period, according to a bourse filing.
Operating profits fell 17.4% to AED 832.33 million in the first three months of 2017 from AED 1.007 billion in the same period in 2016.
Financing costs increased 30.28% year-on-year to AED 30.33 million from AED 23.28 million in Q1-16, according to du's filing to the Dubai Financial Market (DFM).
In 2016, du reported a 12% rise in the number of mobile subscribers to 8.65 million comparted to 7.72 million a year earlier.
The Dubai-listed operator last reported AED 1.75 billion for the full-year 2016, down 9.8% from AED 1.94 billion in 2015.
