Batelco announced net profit of BD15.7 million ($41.6 million) for Q3 2021, according to official sources.
This is said to be a 9 percent increase from BD14.4 million ($38.2 million) for the corresponding quarter of 2020.
The numbers came out as part of Batelco’s announcement its financial results for the third quarter of 2021 — the three months ended 30 September 2021 — as well as for the first nine months of 2021, the period ended September 30.
Batelco’s net profit attributable to equity holders for the first nine months of 2021 was BD53.2 million ($141.1 million), a rise of 6 percent from BD50.3 million ($133.4 million) for the corresponding period in 2020.
The increase in net profit was said to be mainly attributable to steady increases in revenues for the first nine months of the year.
Earnings per share or EPS were 9.5 fils for the third quarter of 2021 compared to 8.7 fils in Q3 2020.
This is said to have resulted in an EPS of 32.2 fils for the nine-month period in 2021 compared to an EPS of 30.4 for the same period in 2020.
Total comprehensive income attributable to equity holders in Q3 2021 was reported at BD13.4 million ($35.5 million), a 25 percent decrease from BD17.8 million ($47.2 million) in the third quarter of 2020, mainly due to foreign currency translation differences, said the bank.
However, total comprehensive income attributable to equity holders of the company for the first nine months of 2021 was up by 41 percent from BD43.0 million ($114.1 million) in 2020 to BD60.6 million ($160.7 million) in 2021.
Revenues for Q3 2021 were BD98.2 million ($260.5 million), which was 2 percent more than BD95.9 million ($254.4 million) in Q3 2020.
Similarly, revenues for the first nine months of 2021 were BD296.4 million ($786.2 million), an increase of 4 percent when compared to BD285.7 million ($757.8 million) for the same period in 2020.
The increase was attributed to YoY increases in fixed broadband, adjacent services, and wholesale revenues of 15 percent, 15 percent, and 3 percent, respectively.
Operating profit for Q3 2021 was up by 8 percent to BD21.8 million ($57.8 million) from BD20.2 million ($53.6 million) in Q3 2020.
Meanwhile, year-on-year operating profits increased 5 percent from BD67.6 million ($179.3 million) in 2020 to BD71.0 million ($188.3 million) in 2021.
EBITDA stood at BD40.6 million ($107.7 million) in Q3 2021 compared to BD38.2 million ($101.3 million) in Q3 2020, an increase of 6 percent.
For the nine months of 2021, EBITDA increased 5 percent from BD120.1 million ($318.6 million) in 2020 to BD126.0 million ($334.2 million) in 2021, with a margin of 43 percent.