Etisalat Q1 net profit down almost 10 per cent year-on-year

Etisalat today announced its group financial results for the first quarter of 2011. Group revenues amounted to AED 8.04 billion (US$2.19 billion), up two per cent year-on-year.

The net profit for the quarter was AED1.8 billion, down almost 10 per cent from the same period in 2010. Etisalat invested in AED 1.11 billion of capital expenditure during the quarter and its net assets amounted to AED 41.3 billion at the end of March 2011.