Paltel/Jawwal disclosed its financial results for Q1/2024

Publishing Date

Ramallah-(BNEWS)- Palestine Telecommunications/Jawwal has disclosed its consolidated financial statements for the first quarter of 2024. The Company achieved a total revenue of JD 57.5 million, compared to JD 74.2 million in 2023, reflecting a decrease of 23%. It also achieved a net profit of JD 6.2 million for the first quarter of 2024, compared to JD 11.3 million for the same period last year.

This decline is mainly attributed to the ongoing aggression on the Gaza Strip, which has resulted in frequent service disruptions and the provision of hundreds of millions of minutes, SMSs, and internet services free of charge. Additionally, the exchange rate of the Shekel against the Jordanian Dinar has depreciated by 4% compared to the same period last year, given that the majority of the company's revenues are in Shekels.

Established as a public shareholding company in 1995, The Palestine Telecommunications Company/Jawwal connects Palestine through an advanced network in the fields of cellular and fixed telecommunications, internet, and information technology solutions, serving more than three million subscribers.