(MENAFN) Bahrain Telecommunications Co's (Batelco) Chief Executive, Peter Kaliaropoulos, said that the operator's net profit went down by 28 percent for the first quarter of 2011, reported Arab News.
Kaliaropoulos said that profit in the first quarter hit of USD46.32 million, compared to USD64 million in the same quarter of the previous year.
Kaliaropoulos cited the drop in profits to the decrease in the number of domestic subscribers and losses from an Indian unit.
In addition, the CEO said that gross revenues went down to USD213 million, registering a four percent decrease while operating profit declined over the same period as expenses and staff costs rose.
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