Saturday, September 23, 2023
NewsEthio telecom's profit grows 109% to 18.7b br in last fiscal year

Ethio telecom’s profit grows 109% to 18.7b br in last fiscal year

Ethio telecom has seen its unaudited profit grow by 109 percent to reach 18.7 billion birr in the last fiscal year, according to the company’s chief executive officer.

Speaking to journalists at Skylight Hotel in the capital while announcing the results, Frehiwot Tamru, CEO of ethio telecom, said the state-owned telecom operator registered a total revenue of 75.8 billion birr and USD 164.1 million in foreign currency revenue in the last fiscal year ended July 2022 amid challenges due to internet restrictions.

The consistent profit growth is attributed to the expanding subscriber base and improvement in service offerings, Frehiwot said, adding that Ethio Telecom’s total subscribers have reached 72 million, encompassing mobile data, 3G and 4G LTE services.

The telecom is undertaking various measures to expand network coverage, improve customer service and boost productivity, according to Frehiwot.

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