Ramallah-(BNEWS)- Palestine Telecommunications Company /Jawwal has announced its consolidated financial results for the first nine months of 2024.
The company reported total revenues of 180.7 million Jordanian Dinars, compared to 222.0 million Jordanian Dinars for the same period in 2023, reflecting a 19% decrease. Net profit for the first nine months of 2024 reached 31.2 million Jordanian Dinars, down from 37.1 million Jordanian Dinars in the previous year.
The decline in financial performance is primarily attributed to the significant impact on the company's operations and infrastructure, particularly in the Gaza Strip, due to the ongoing aggression for over a year.
Despite these challenges, the company has made extensive efforts to maintain services and keep more than 2 million people in the Gaza Strip connected, in addition to providing its subscribers with hundreds of millions of minutes, messages, and internet services for free.
Moreover, the depreciation of the shekel against the Jordanian Dinar contributed to this decline, as the majority of the company’s revenues are in shekels.
On the other hand, the company has demonstrated its ability to adapt to the imposed conditions by introducing responsive technological solutions, implementing a flexible strategy, and effectively directing resources. This commitment highlights the dedication and determination of its teams in overcoming challenges.
Palestine Telecommunications Company / Jawwal, established in 1995 as a public shareholding company, connects Palestine through a modern network encompassing cellular and fixed-line communications, internet services, and information technology solutions. Today, it serves over three million subscribers across all sectors.
