Syrian telecommunications company Syriatel recorded over 35 billion Syrian pounds during the first nine months of 2020, compared to the same period in 2019.
According to the economic website, the company achieved revenues of 200.64 billion pounds during the first nine months of 2020, compared to 164.2 billion pounds in the same period of 2019. The Syrian government's share, along with interconnection fees with Syrian Telecommunications and annual fees and contributions to the Communications and Postal Regulatory Authority, was estimated at 44.75 billion pounds from the company's revenues. The company achieved profits of 87 billion pounds during the first nine months of 2020, including foreign exchange evaluation profits of 27.99 billion pounds during the mentioned period, resulting in a net profit of about 60 billion pounds.
The Administrative Court, which issued a ruling in June 2020 to impose judicial guardianship on Syriatel, tasked the Syrian Telecommunications Company with the judicial guardianship, with a monthly fee of 10 million Syrian pounds, due to the company's tax evasion issues. Under Syrian law regarding judicial guardianship, it has the authority to receive the specified funds and place them under guardianship, with the judicial guardian managing the funds subject to judicial guardianship, in addition to maintaining the company's records.
