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General

Ooredoo Q3 net profit falls 51% on forex losses

Monday 31 October 2016 | 09:38 CET | News
Qatar-based Ooredoo Group reported third-quarter revenues up 2 percent year-on-year to QAR 8.352 billion, and EBITDA rose 3 percent to QAR 3.678 billion. The company's net profit was still down 51 percent from a year earlier to QAR 370 million, due to foreign exchange losses. Ooredoo attributed the growth in underlying results to strong growth in data revenues, which reached 39 percent of group revenues, and expansion in the enterprise market, which accounted for 17 percent of revenues. In addition, the customer base grew 16 percent year-on-year to 166 million at the end of September.

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Categories: General
Companies: Ooredoo
Countries: Middle East
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