UAE Etisalat's FY15 profit drops 4%

Abu Dhabi-listed Etisalat Group reported a net profit of AED 8.265 billion for fiscal year 2015, down 4 percent, or AED 320 million, when compared to AED 8.601 billion in 2014.

The telco’s total revenue grew by 6.6 percent year-on-year (YoY) to AED 51.7 billion, driven by strong performance of local operations and consolidation of the full year financials of Maroc Telecom. 

Within the UAE, the company’s revenue rose by 6 percent as its subscriber base grew across its consumer and enterprise segments.

Etisalat shares fell 0.31 percent lower at AED 16.05 by market close on Sunday.