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Etisalat Q3 income climb 28% after Indonesia sale
- United Arab Emirates: Wednesday, October 24 - 2012 at 02:15
Etisalat has reported a 28% increase in third-quarter profit, after the former monopoly booked gains from a stake sale in Indonesia, Reuters has reported. The firm, which operates in 15 countries across the Middle East, Africa and Asia, made a net profit of Dhs2.21bn ($602m) in the three months to September 30, up from Dhs1.72bn in the year-earlier period. This included net profit of Dhs430m from selling a 9.1% stake in Indonesia's PT XL Axiata that cut Etisalat's holding to 4.2%. Third-quarter revenue was Dhs8.01bn, near-flat from a year ago. Etisalat's foreign operations generated revenue of Dhs2.4bn, up 7% year-on-year.
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