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FINANCIAL NEWS
Oman- Nawras’ Q1 profit drops 21% to USD20m
29 Apr 2013
(MENAFN) Oman’s Nawras, the Sultanate’s second-biggest telecom operator, announced that its net profit declined by 21 percent in the first quarter to USD20 million from USD25.38 million a year before, reported Arabian Business.
The company added that total revenue rose by 3 percent to USD124.86 million, up from USD121.24 million in 2012’s same period.
Meanwhile, earnings before interest, tax, depreciation and amortization (EBITDA), dipped 4.1 percent, reaching USD60.10 million in the period from January to March.
As of March 31, the operator, majority-owned by Qatar’s Ooredoo, had 2.23 million fixed and mobile customers, representing an annual rise of 12.3 percent.
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