Etisalat revenue surges 5% in 2009

EtisalatEmirates Telecommunications Corporation (Etisalat), a leading telecom firm based in UAE, has announced its financial results for the year ended 31 December 2009. It reported 5 per cent increase in its net revenue to AED30.83 billion in 2009 as compared to AED29.36 billion reported year ago.

The company, which announced to raise stakes in its Indian subsidiary to 50 per cent, reported a net profit of AED8.836 billion against AED8.511 billion reported in the corresponding period last year. The profit figures include revenue received by selling stakes in Saudi cellco Mobily.

Commenting over firm's robust performance, Etisalat Chairman Mohammed Omran said, "These results highlight that Etisalat has followed the correct strategy by following a selective policy in our international investments. We have also been successful in reducing our operational expenditure, which further enhances our performance."

Etisalat's domestic mobile subscriber's base rose 6 per cent year-on-year basis during the period. Number of internet subscribers too surged 16% in 2009 to total 1.33 million. The company introduced 'eLife' fibre-to-the-home (FTTH) network in 2009 in a bid to provide fiber-optic infrastructure in Abu Dhabi.