(MENAFN) Dubai-based Du, the UAE's second-best telecom operator, posted a net profit of USD132.6 million in the first quarter of the year, marking a 0.6 percent decrease year-on-year, Reuters reported.
The profit of the corresponding period last years was USD133.46 million. The firm's revenues, however, showed an increase from USD805.72 million to USD830.22 million.
The decrease in net profit is attributed to a decrease in the number of subscribers in addition to a higher tax rate, which the company was obliged to pay.
Du Telco is the operator who managed to put an end to its rival Etisalat's local domination of the market back in 2007.
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