Revenue up 8.8% to Rs 3.23 billion, EBITDA up 10.2% to Rs 1.63 billion and profit after tax from continuing operations up 29.9% to Rs 488 million for the nine months ended 30 September 2026
Emtel Limited continued its growth trajectory in the third quarter, delivering a strong performance for the nine months ended 30 September 2026. Revenue, EBITDA and profit after tax all rose, extending the trend set in the first half of the year. The Board has also introduced a Scrip Dividend Scheme: for the first time, shareholders have the flexibility to take their dividend in new Emtel shares instead of cash.
Revenue for the period reached Rs 3.23 billion, up 8.8% compared with the same period last year. EBITDA grew faster, rising 10.2% to Rs 1.63 billion on the back of higher revenue and disciplined cost management, and the EBITDA margin improved to 50.5% from 49.9%. Profit after tax from continuing operations rose 29.9% to Rs 488 million, reflecting improved operating performance.
The drivers behind this performance
Recurring service revenue, which covers mobile services, home internet and enterprise services, remained the main driver of growth, reaching Rs 2.98 billion. Non-service revenue, from devices and tower rentals, rose to Rs 253 million.
“Our focus on disciplined execution and a tight grip on costs is enabling us to keep growing recurring revenues and to improve our EBITDA margin, which remains above 50%,” said Marcelo Aleman, Chief Executive Officer of Emtel. “Growth has been consistent across the first three quarters of the year, and that gives us a solid base for the months ahead.”
A Scrip Dividend that lets shareholders’ money work for them
On 5 November 2026, the Board approved a final dividend of Rs 0.77 per share, payable in December 2026.
Under the Scrip Dividend Scheme, shareholders can choose to receive this dividend in new ordinary shares instead of cash, either in full or in part.
The reinvestment option comes with a clear advantage. The new shares will be issued at a 3% discount to the average market price, with no brokerage fees. The Scheme therefore gives shareholders more flexibility and a simple, cost-efficient way to reinvest in Emtel. Since the new shares also qualify for future dividends, the benefit builds over time for those who reinvest. For Emtel, cash that is not paid out stays in the business and can be put towards the Group’s strategic objectives.
Participation is straightforward. Shareholders will receive an election form and, should they wish to participate, simply need to indicate their choice by the stated deadline. Shareholders who take no action will receive their full dividend in cash as usual. The timetable will be shared in due course, and full details of the Scheme are available in the official documents published by the Company.
“With the Scrip Dividend, we want our shareholders’ money to keep working for them,” said Marcelo Aleman. “Choosing shares over cash lets investors build their holding at a discount and at no extra cost, while sharing directly in Emtel’s growth. The cash we retain goes straight back into the business. It works for our shareholders and it works for Emtel, as we keep building the trusted digital backbone of Mauritius.”
Outlook
Emtel expects to keep up its momentum for the rest of the year as it continues to implement its strategic initiatives. The focus remains on customer excellence, talent development, operational efficiency and disciplined cost management. The economic environment is still uncertain, but the Board is confident in the Group’s prospects. It will continue to take a prudent approach to capital expenditure and costs, with the aim of sustaining margin expansion and delivering long-term value to shareholders.
