Dubai-based Du, the Gulf Arab region's second-worst performing telecom stock this year, said revenues almost doubled in the first quarter on sales from its Internet, television and telephone packages.
Du, which started the UAE's second mobile phone network in February, made revenues of 183.2 million dirhams ($49.89m) in the first quarter, compared with 94.39m dirhams in the year-earlier period, it said in a statement on the Dubai bourse Web site.
The company's net loss in the quarter was 215.84m dirhams, or 0.05 dirhams per share, up from 55.35m dirhams, or 0.01 dirhams per share, a year earlier.
Chief Executive Osman Sultan said earlier the net loss was 215m dirhams. Du, which had more than 250,000 subscribers by March 31, generated most of its revenue from selling packages combining Internet, television and fixed-line services to customers in restricted residential and commercial areas in Dubai.
"We're talking about only five weeks of effective launch of mobile services in the quarter. Most of the revenue was driven by triple-play packages," Sultan said. Source
Du, which started the UAE's second mobile phone network in February, made revenues of 183.2 million dirhams ($49.89m) in the first quarter, compared with 94.39m dirhams in the year-earlier period, it said in a statement on the Dubai bourse Web site.
The company's net loss in the quarter was 215.84m dirhams, or 0.05 dirhams per share, up from 55.35m dirhams, or 0.01 dirhams per share, a year earlier.
Chief Executive Osman Sultan said earlier the net loss was 215m dirhams. Du, which had more than 250,000 subscribers by March 31, generated most of its revenue from selling packages combining Internet, television and fixed-line services to customers in restricted residential and commercial areas in Dubai.
"We're talking about only five weeks of effective launch of mobile services in the quarter. Most of the revenue was driven by triple-play packages," Sultan said. Source
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