The state owned monopoly ethio telecom (et), amassed 5.3 billion birr in gross profits while the number of landline users declined, during this fiscal year’s first half period. Despite anecdotal evidence of worsening network problems the telecom monopoly continues to earn a lot of money.The enterprise disclosed their unaudited gross profits in the first six months were 111 percent of their target.
The gross profit grew 10 percent compared with the second half performance of the past fiscal year (2012/13).
During that time etio telecom hoped to collect 7 billion birr in total revenue and it has met 91 percent of this target.
In terms of revenue the company’s performance grew 12.4 percent compared with the first half of the last fiscal year, according to Abdurahim Ahmed, public relations head of et.
Abdurahim said the enterprise has earned 67 percent of the total revenue from mobile business and international service. Data and Internet contributed 16 and 10 percent respectively to the revenue.
In just five months, between June and November 2013 landline customers shrunk five percent. According to the report, there are 748,555 landline users down from 790,168 six months ago.
Despite problems with mobile service and Internet coverage in many areas of Addis Ababa and other towns, et says it has seen a dramatic increase in new customers.
Mobile use has been booming, growing by 10 percent during the time between June and November 2013. There are now 26 million mobile subscribers and 19.5 million of them are active, according to the report. The total number of et customers in terms of different services has reached 27.14 million and that is 10 percent more than the past budget year and around 20 million are active customers.
According to Abdurahim, 14,021 rural kebeles have telecom access, and 1,335 schools and 639 weredas are connected with school-net and wereda-net.
The state enterprise that is supporting the nationwide railway project with 6 billion birr every year has 40 major voucher card distributors and 53,006 agent retailers.
In the past year, et recorded gross profits of 20 billion birr before taxes and other expenses, for the first time. Two years ago, it recorded gross profits of 17 billion birr from its telecoms business.