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LequteMan
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Nigeria - Abu Dhabi-listed telecoms firm Etisalat yesterday reported a 40 percent fall in second-quarter net profit.
It blamed the fall on its Saudi Arabia affiliate Mobily and foreign exchange losses.
Etisalat, which operates in about 19 countries across the Middle East, Africa and Asia, made a net profit of 1.5 billion dirhams ($408.4 million) in the three months to June 30, the company said in a statement.
The company did not provide a year-earlier figure, but its previous financial statements showed the company made a profit of 2.51 billion dirhams in the second quarter of 2014.
Analysts had forecast the Gulf’s No.2 telecoms operator by market value would post a quarterly profit of 2.16 billion dirhams.
Reuters
It blamed the fall on its Saudi Arabia affiliate Mobily and foreign exchange losses.
Etisalat, which operates in about 19 countries across the Middle East, Africa and Asia, made a net profit of 1.5 billion dirhams ($408.4 million) in the three months to June 30, the company said in a statement.
The company did not provide a year-earlier figure, but its previous financial statements showed the company made a profit of 2.51 billion dirhams in the second quarter of 2014.
Analysts had forecast the Gulf’s No.2 telecoms operator by market value would post a quarterly profit of 2.16 billion dirhams.
Reuters
