Mauritius Telecom Rakes Record Revenue of Rs 12.7 Billion in 2023

Mauritius Telecom (MT) held a press conference on Thursday, June 13, 2024, to present its financial report for the year 2023. The company announced a record revenue of Rs 12.7 billion, representing a growth of 11.2% compared to 2022.

The CEO, Kapil Reesaul, attributed this growth to the strategic plan implemented by the company in 2023.

The company’s revenue has been driven by a number of key initiatives, including the launch of its Telecom App, the doubling of internet speeds, and the deployment of the T3 submarine fiber-optic cable.

The T3 cable, which required an investment of $60 million (Rs 2.78 billion), has a capacity of 72 terabytes and has significantly enhanced the company’s internet connectivity.

In addition to its revenue growth, MT’s profits have also increased by 11.7% to Rs 1.2 billion in 2023. The company’s focus on innovation, diversification, digitalization, and sustainability has been key to its success.

MT has also been committed to social and environmental initiatives, having invested Rs 400 million since 2010 in projects that benefit the community and the environment.

The company’s CEO emphasized that its success is not just about monetary gains and profits, but also about using its resources to serve and benefit society.

The company is also committed to reducing its carbon footprint by investing in renewable energy and sustainable technologies. Its goal is to achieve a dependence of 50% on renewable energy by 2026.

When asked about the budget announcement providing internet connections to users aged 18-25, CEO Kapil Reesaul confirmed that discussions are ongoing.

MT’s financial report for 2023 highlights the company’s commitment to innovation, sustainability, and social responsibility. Its record revenue and profit growth demonstrate its success in implementing its strategic plan and its focus on delivering value to its customers and stakeholders.

Source: Defi Media