The company made a net profit of BD10.4 million ($27.6 million) in the three months to June 30.

Bahrain Telecommunications Co (Batelco) posted a 22.4 per cent drop in second-quarter profit on Sunday, according to Reuters calculations.

The former monopoly, which had reported declining profits in 16 of the previous 19 quarters, made a net profit of BD10.4 million ($27.6 million) in the three months to June 30, down from BD13.4 million in the year-earlier period.

Batelco didn’t provide a quarterly breakdown so Reuters based its calculations on its first-half financial statement.

The operator said its board was proposing to pay a cash dividend of BD0.01 per share for the period. This is in line with the amount paid in the corresponding period last year, according to Thomson Reuters data