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Wireless

Ooredoo Group Q1 net profit falls 50% because of forex effects, revenue down 1%

Thursday 29 April 2021 | 09:47 CET | News
Ooredoo Group said net profit declined by 50 percent to QAR 193 million in the first three months to 31 March compared with QAR 387 million in the same period in 2020, mainly due to foreign exchange (FX) impact from Myanmar, with an FX loss in Q1 versus an FX gain in Q1 2020. Excluding the FX impact, the net profit increased by 120 percent. There was a year-on-year revenue decline of 1 percent to QAR 7.2 billion because of the negative FX effect.

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Categories: Mobile & Wireless
Companies: Ooredoo
Countries: Middle East
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