Abu Dhabi – Mubasher: The net profits attributable to the equity holders of Emirates Telecommunication Group (Etisalat) increased by 3.8% to AED 9.027 billion in 2020 from AED 8.693 billion in 2019.
The company's revenues went down by 0.9% to AED 51.708 billion in 2020, compared to AED 52.186 billion during the previous year, according to the company's preliminary financial results for 2020.
Lower revenues are driven by the coronavirus (COVID-19) pandemic, temporary lockdown, restricted mobility, and travel ban which led to a decrease in activities in most of the company's markets.
The earnings per share (EPS) stood at AED 1.04 last year, against AED 1 in 2019.
It is noteworthy to mention that during the third quarter (Q3) of 2020, the company's net profits increased to AED 2.41 billion from AED 2.29 billion in the corresponding quarter of 2019.
