November 1, 2018 / 5:36 AM / 20 days ago

UAE telco du Q3 net profit falls 7.4 pct

DUBAI, Nov 1 (Reuters) - Emirates Integrated Telecommunications Co (EITC), known as du, posted a 7.4 percent fall in third-quarter net profit on Thursday.

The United Arab Emirates’ No. 2 telecom operator reported a net profit after royalty of 441 million dirhams ($120 million) in the three months to Sept. 30, down from 476 million dirhams a year ago.

Revenue rose 6.4 percent to 3.3 billion dirhams, the company said.

SICO Bahrain and EFG Hermes forecast du would make a quarterly net profit of 467.15 million dirhams and 457.01 million dirhams, respectively.

Rival Etisalat last week reported a 4.2 percent drop in third-quarter net profit. ($1 = 3.6728 UAE dirhams) (Reporting by Alexander Cornwell; Editing by Sunil Nair)

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