du’s net profits surge by nearly 50% in 9M-24 - Mubasher Info

DU
DU -0.27% 7.47 -0.02

Dubai – Mubasher: The net profits of Emirates Integrated Telecommunications Company (du) hiked by 49.70% year-on-year (YoY) to AED 1.90 billion in the first nine months (9M) of 2024 from AED 1.27 billion.

Revenues amounted to AED 10.76 billion in January-September 2024, an annual rise of 6.80% from AED 10.07 billion, according to the financial results.

In the third quarter (Q3) of 2024, du logged net profits valued at AED 719 million, higher by 42.70% YoY than AED 504 million. Revenues jumped by 9.10% to AED 3.58 billion from AED 3.29 billion.

Fahad Al Hassawi, CEO of du, commented: “With our expanded portfolio and the deployment of 5G SA and AI technologies, we are setting the stage for transformative digital adoption by individuals, businesses, and governmental bodies alike, building a future that is both more interconnected and digitally savvy.

“Our customer base is further expanding and the third quarter was marked by over 14% growth of the Fixed customer base,” Al Hassawi mentioned.

As of 30 June 2024, the DFM-listed company recorded 54.20% YoY higher net profits at AED 1.18 billion, compared to AED 768 million.

Source: Mubasher Source: {{details.article.source}}