Mubasher: Bahrain Telecommunications Company (Batelco Group) posted on Thursday a net profit of BHD 22.7 million ($60.2 million) for the first half of the fiscal year 2016, falling by 18% compared to the same period of 2015.
Net profit also decreased in the second quarter of fiscal 2016 by 2% year-on-year, according to a statement.
The company’s total revenues fell in H1-16 by 2% y-o-y to BHD 182.9 million ($485.1 million). The drop was attributed to competitive pressures in key markets
However, revenues have remained steady in the Q2-16 compared to Q2-15 as it grew slightly by 1%.
Total expenses decreased by 5% y-o-y and 4% q-o-q thanks to the company’s cost containment programmes.
Operating profit leapt in H1-16 by 2% y-o-y to BHD 36.8 million ($97.6 million) and rose in the second quarter by 7% y-o-y.
