Mauritius leading telecom network provider Emtel Limited posted a 29.9 percent increase in nine-month net profit to MUR487.91 million ($10.4 million), driven by rising data demand and sharply lower infrastructure outlays. The board declared a dividend of MUR0.77 ($0.016) per share alongside a scrip equity alternative, according to unaudited financial statements.

The Port Louis-based telecom operator, backed by the Currimjee Jeewanjee Group, saw gross revenue climb 8.8 percent to MUR3.23 billion ($68.84 million) through September. Core operating earnings rose 10.2 percent to MUR1.63 billion ($34.78 million), lifting EBITDA margins to 50.5 percent from 49.9 percent a year earlier.

Network rollouts boost free cash

Capital expenditure plunged to 12.7 percent of total revenue from 27.2 percent a year earlier, following the completion of nationwide fiber-optic and 5G network rollouts. That sharp deceleration in capital intensity allowed operating cash flow to more than double to MUR1.15 billion ($24.41 million), up from MUR513.62 million ($10.95 million).

Core service revenue, which accounts for the bulk of earnings, rose 7.9 percent to MUR2.98 billion ($63.45 million) on broadband, voice, and enterprise connectivity gains. Non-service receipts, comprising handset sales and tower leasing, surged 23.7 percent to MUR253.04 million, underscoring steady top-line growth across peripheral commercial segments.

Balance sheet leverage drops sharply

Balance sheet deleveraging gathered pace as net debt dropped to MUR2.7 billion ($57.55 million), lowering Emtel’s leverage ratio to 1.3 times annualized EBITDA from 2.0 times in September 2025. Total equity reached MUR1.44 billion ($30.72 million), underpinned by retained earnings rising to MUR1.21 billion ($25.75 million).

The planned MUR351 million ($7.48 million) dividend distribution, scheduled for Dec. 28, lifts total regular payouts to MUR1.54 ($0.033) per share for the year, matching 2025 distributions. Under the newly introduced scrip scheme, eligible investors may elect to receive new ordinary shares to preserve company cash reserves.