BAHRAIN TELECOMMUNICATIONS Co (Batelco) posted a 61 per cent drop in fourth-quarter net profit as one-off expenses outweighed a 29 per cent rise in revenue. The former monopoly, which had reported declining profits in 15 of the previous 17 quarters, made a net profit of BD6.9 million ( $18.30 million ) in the three months to 31 December, down from BD17.8 million in the year-earlier period, Reuters calculated from past financial statements. Batelco made a full-year profit of BD43.6 million, down from BD60.3 million in the corresponding period of 2012, it said in an emailed statement. Annual revenue rose 21.6 per cent to BD370.6 million, while its fourth-quarter revenue of BD99.4 million was 29 per cent higher than for the same period of 2012, Reuters calculations show.
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