Etisalat reports 70% surge in Q4 earnings
The UAE’s largest telecoms operator by revenue and subscribers, Etisalat, has reported a 70% surge in fourth-quarter net profit, Reuters has reported. Etisalat, which operates in about 15 countries across the Middle East, Africa and Asia, made a net profit of Dhs1.45bn ($394.77m) in the three months to December 31. Full-year net income rose to Dhs7.08bn from Dhs6.74bn a year earlier. Etisalat’s foreign operations accounted for 33% of Etisalat’s revenue in 2013, up from 28% a year earlier after unit Pakistan Telecoms Co (PTCL) was included. The UAE firm treated PTCL as a subsidiary from 2013.