Ramallah-(BNEWS) - Palestine Telecommunications (Jawwal) has disclosed its consolidated financial statements for the first half of 2024. The company achieved a total revenue of JD 118.1 million, representing a 20% decrease from JD 148.1 million in 2023. Additionally, the net profit for the first half of 2024 was JD 18.9 million, compared to JD 26.1 million for the same period last year.
The company's financial results have declined due to the ongoing aggression on the Gaza Strip, which has significantly impacted its operations and network infrastructure for the tenth consecutive month. Additionally, the company has continued to provide its subscribers in the Gaza Strip with hundreds of millions of free minutes, SMSs, and internet access to ensure their connection to the outside world.
Additionally, the exchange rate of the Shekel against the Jordanian Dinar has depreciated by 3% compared to the same period last year, impacting the company's revenues, the majority of which are in Shekels.
Established as a public shareholding company in 1995, Palestine Telecommunications Company (Jawwal) connects Palestine through an advanced network in cellular and fixed telecommunications, internet, and information technology solutions, serving more than three million subscribers across all segments.
