06 August 2024

Ethio Telecom has posted a net profit of 21.79 billion birr in the 2023/2024 financial year. This represents a 20.9% increase from the previous year.

At the end of the year, Ethio Telecom saw its revenue increase by 21.7% year-on-year to Birr 93.7 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached Birr 42.44 billion, an increase of 47%.

“We focused on several key initiatives to continue our growth. These included expanding and improving our digital and telecommunications infrastructure to meet the growing demand for high-quality services,” said Ethio Telecom in a statement.

The company also focused on continued network optimisation, delivering innovative products and services, brand building, cost optimization, etc. At the end of the year, Ethio Telecom had 78.3 million mobile customers, up 8.9%.