× Government Healthcare Islamic Finance Oil And Gas Real Estate Technology Telecom Tourism

Bahrain's Batelco posts 12% rise in Q2 2022 net profit

July 27, 2022

Bahrain's telecommunications company Batelco reported that its net profit for the second quarter rose by 12% year-on-year to BD20 million ($53.1 million).

Revenues went up by one percent to BD98.4 million, while operating profit increased by 4% to BD24.7 million, the company said in a statement.

For the first half of 2022, total net profit attributable to equity holders rose marginally by 1% to BD37.9 million.

Earnings per share (EPS) for the quarter stood at 12.1 fils, up from 10.8 fils in the same period last year. For the first half, EPS stood at 22.9 fils, up slightly from 22.7 a year ago.

Batelco's board of directors approved an interim cash dividend for shareholders of 13.5 fils per share, representing 13.5% of the company's paid-up capital for the first half of the year.

The company said its balance sheet remains 'strong', with total equity attributable to equity holders pegged at BD485.6 million as of June 30 this year.