Emirates Integrated Telecommunications Company, also known as du, reported a 65.6 per cent slide in third-quarter net profit, as operating expenses rose and the operator registered higher depreciation and amortisation charges, despite a rise in revenue.
The total profit for the three month period to the end of September declined to Dh283 million ($77.05m), the company said in a statement to the Dubai Financial Market, where its shares are traded. Operating expenses during the period jumped more than 14 per cent to Dh2.26 billion from a year earlier.
Revenue jumped 6.9 per cent to Dh2.87bn on sustained demand for broadband services and 5G handsets, according to the company.
“Our fixed services business delivered another solid quarter,” Fahad Al Hassawi, chief executive of du, said. “Broadband net-adds accelerated to 52k thanks to an attractive service offering. In addition, we see corporate demand for fixed services returning.”
“Our commercial initiatives in mobile services are bearing fruits. The refreshed prepaid mobile tariffs are pushing gross-adds on the prepaid segment towards pre-pandemic levels."
Following two years of capital deployment, the company’s “5G network is now accessible to 90 per cent of the population," he said.
The company's mobile customer base reached 6.5 million in the period, with the company gaining 1.3 million post-paid customers, while prepaid customers fell to 5.2 million subscribers due to "summer seasonality and flight restrictions brought by the Covid-19 Delta variant", the company said.
PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
UAE currency: the story behind the money in your pockets
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Yemen's Bahais and the charges they often face
The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.
The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran.
Today, some 2,000 Baha'is reside in Yemen, according to Insaf.
"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said.
Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer.
The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy.
THREE
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Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Jumanji: The Next Level
Director: Jake Kasdan
Stars: Dwayne Johnson, Kevin Hart, Karen Gillan, Jack Black, Nick Jonas
Two out of five stars
