After 9mobile exit, Etisalat profit crash by 15% in Q2

Etisalat

Abu Dhabi-based Etisalat said its net profit for the second quarter of the year fell by 15% year on year after it factored impairments.

Total impairments for the period rose to 184.72 million dirhams versus 21.9 million dirhams a year earlier. Revenues totalled 12.83 billion dirhams, against 13.32 billion dirhams.

Etisalat exited its stake in 9Mobile Telecoms (formerly Etisalat Nigeria) after the company failed to reach a concrete agreement with its creditors. The company has since handed over its stake to the consortium of lenders who are currently looking for a suitable buyer.

The UAE company said it will pay 40 fils per share dividend for the half year.