du says Q1 profits swelled 61.8% before royalty

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A view of du's exhibition pavilion at Dubai's GITEX 2011 fair. Photo - du

UAE telecoms operator du has announced its first quarter net profit before royalty swelled 61.8% as mobile revenues more than doubled.

The Dubai-based service provider, also known as Emirates Integrated Telecommunications Co, said net income for the first three months of the year increased to AED666m ($181 million) from AED412m ($112.16) a year earlier.

“We have achieved healthy growth in revenues, with strong performance from what we believe will be key drivers going forward, including mobile data revenue and our post-paid subscriber base,” Osman Sultan, CEO of du, said in a statement.

Du’s mobile revenue also grew 21.8% to AED1.9bn ($520mn) while total revenue increased 20% to AED2.4bn ($650mn).

The Etisalat rival added 320,600 mobile subscriptions during Q1, bringing the total number of mobile connections to 5.5m.

Fixed-line customers increased 13.5% to 545,300.

The firm, which launched its services in 2007, currently enjoys a 46.7% share of the UAE mobile market.

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