Mobile network operator SyriaTel has announced its consolidated financial results for the fiscal third-quarter and nine months ending 30 September 2012, showing an improvement in the results posted in the corresponding year-earlier periods. Third-quarter net revenue reached SYP14 billion (USD201 million) it said, while net profit for the three months climbed 29% year-on-year to SYP2.73 billion. Earnings per share soared to SYP20.38, compared to SYP11.54 for Q3 2011.
For the first nine months of last year, SyriaTel’s net revenues totalled SYP42.73 billion, more than SYP2 billion better than the figure posted in 9M11. The company was however, required to pay fixed line operator STE interconnection expenses of more than SYP23.7 billion, it said, representing 55.5% of net revenues. In addition, it was required to pay out SYP1.5 billion in income tax costs. Nonetheless, net profits for 9M12 exceeded SYP8.5 billion – up 29% y-o-y.