e&’s revenues jump 7% in 9M-24; profits cross AED 8.2bn - Mubasher Info

e&
ETISALAT -0.78% 17.72 -0.14

Abu Dhabi – Mubasher: e& registered net profits valued at AED 8.21 billion in the first nine months (9M) of 2024, an annual decline from AED 8.36 billion.

Revenues climbed by 7% year-on-year (YoY) to AED 42.72 billion in 9M-24 from AED 40.01 billion, according to the financial results.

Basic and diluted earnings per share (EPS) grew to AED 0.97 as of 30 September 2024 from AED 0.88 in 9M-23. 

Financials for Q3-24

In the third quarter (Q3) of 2024, the telecom group achieved net profits worth AED 3.10 billion, lower YoY than AED 3.27 billion.

The revenues jumped to AED 14.42 billion in Q3-24 from AED 13.39 billion in Q3-23, while the basic and diluted EPS was unchanged at AED 0.34.

Hatem Dowidar, Group CEO of e&, stated: “e& continued its strong momentum in 9M, with consolidated revenue growing 9 per cent in constant currency to report AED 42.70 billion.”

Dowidar added: “We scaled up e&’s telecom footprint to 20 countries, bringing our overall reach to 38 markets. This growth, coupled with our solid performance in both local and international markets, drove our consolidated net profit to reach AED 8.50 billion growing 10% during the 9M-24.”

“Now that we have completed the acquisition of a controlling stake in PPF Telecom Group, we look forward to the opportunities that will arise as we expand our global horizon, impacting the lives of over 1 billion people across the Middle East, Asia, Africa, and now Central and Eastern Europe—marking our first operational foothold in Europe,” he indicated.

As of 30 June 2024, the net profits attributable to the shareholders of e& hiked YoY to AED 5.49 billion from AED 4.70 billion.

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