UAE telecoms operator Emirates Integrated Telecommunications Company (du) saw its second quarter earnings jump by nearly half on strong EBITDA growth.

Net profit for the quarter reached 581 million dirhams ($158 million), a 46.3% increase year over year, the company reported on Monday.

EBITDA grew 3.2% to AED 1.57 billion, while operating cash flow went up by 11% to AED 1.1 billion from a year earlier.

Revenues increased by 7.3% to AED 3.592 billion, driven by strong growth in mobile and other revenues.

During the first half of the year, total net profit reached AED 1.184 billion, up by 54.2% from a year ago. while revenues grew 5.7% to AED 7.174 billion.

“The first half of 2024 saw EITC deliver another record set of results... The country’s macro-economic environment was very supportive to our activity,” said Malek Al Malek, EITC chairman.

The operator’s mobile subscribers reached 8.2 million during the second quarter, up by 2.9% from a year earlier.

Its postpaid customer base grew by 11.3% to 1.7 million, while prepaid customers inched up by 0.9% to 6.5 million.

The number of fixed customers posted a strong growth of 12.7% to 630,000 subscribers.

(Writing by Cleofe Maceda; editing by Brinda Darasha)