Mauritius Telecom posts impressive Rs1.1 billion profits

Mauritius Telecom (MT) has announced impressive net profits of Rs 1.1 billion for the financial year 2022, doubling its previous year’s earnings of Rs 594 million, according to CEO Kapil Reesaul.

During his first press conference, Reesaul highlighted the company’s resilience and its ability to overcome the turbulence following the resignation of former CEO Sherry Singh, with all the associated controversies.

The positive financial figures show a 5.3% increase in revenue compared to 2021, reaching Rs 11.4 billion.

Since taking office in August, Reesaul said that the company has made decisions in line with the Board’s direction, implemented changes, and commissioned audits to assess the situation.

Reesaul reportedly acknowledged that further improvements could have been made and outlined the company’s digitalisation plan, focussing on innovation as a key driver for achieving their objectives.

During the Q&A session, Reesaul and Chairman Maxime Sauzier faced questions related to the ‘Sniff Gate’, ‘Copper Gate’, and ongoing police investigations.

In response, they stated that multiple investigations are underway.

“Sauzier mentioned that three audits—financial, technical, and forensic—had been conducted, and their findings were shared with the relevant authorities,” l’Express reported.

Source: L’Express