Bahrain’s Batelco Q3 net profit falls 16%

Dubai: Bahrain Telecommunications Co (Batelco) reported a 13.4 per cent fall in third-quarter profit on Tuesday.

The former monopoly made a net profit of 13.4 million dinars ($35.53 million) in the three months to June 30, up from 16 million a year earlier, Reuters calculated based on Batelco’s nine-month earnings statement.

SICO Bahrain had forecast Batelco would make a quarterly profit of 13.6 million dinars.

Batelco made a net profit of 40.9 million dirhams in the first nine months of 2015, its statement said, which was the same amount as in the prior-year period.

In Bahrain, Batelco competes with units of Kuwait’s Zain and Saudi Telecom Co as well as about 10 internet providers.