Maroc Telecom reports $615 million profit for 2023

RABAT: Maroc Telecom on Friday posted a 6.4% rise in 2023 profit to 6.195 billion dirhams ($615 million) and said it planned to appeal a court order that threatens to wipe out its earnings.

Morocco’s largest telecoms operator has been ordered by a Moroccan court to pay 6.3 billion dirhams to rival Wana Corporate, better known by its brand name Inwi, for unfair competition practices.

The company posted a 3% rise in revenue to 36.8 billion dirhams and forecast a stable performance in 2024.