e& sees nine-month revenue jump 7% to Dh42.7 billion
Net profit increased by 10% to Dh8.5 billion during the nine months ended September
Dubai: e& saw its revenue increase by 7 per cent to Dh42.7 billion, supported by the growth across all verticals, approving and distributing an interim dividend per share of 41.5 fils for H1 2024 as per the tech-telecom's new approved policy.
The company reported that its net profit after federal royalty and corporate tax increased by 10 per cent to Dh8.5 billion, with margin of 20 per cent. "EBITDA reached Dh19.4 billion, stable year over year in constant currency with a margin of 45 per cent, while telco margin remained strong at 49 per cent," the firm reported.
"Revenue growth in the third quarter of 2024, driven by robust performances in both the digital and telecom verticals. Specifically, the telecom verticals reported a strong EBITDA margin of 49 per cent despite inflationary pressure across e&’s operational footprint," the company said in a statement.
During the the third quarter, aggregate subscriber base reached 177 million for the firm, representing a year over year increase of 6 per cent, it added.