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FINANCIAL NEWS
Oman Telecom Co. revenue falls on higher royalty
14 May 2017
(MENAFN) Oman Telecommunications Company (Omantel) proclaimed that the firm’s board has confirmed its first quarter result.
Moreover, the firm’s revenue reached for the period stood at OMR132.6mn, whereas the net profit reached OMR23.8mn compared to OMR34.8mn in the same period of 2016.
However, the decline in revenue was attributed to royalty increase from 7 percent to 12 percent with effect from Jan 1, 2017.
On the other hand, its operating expenses viewed an increase of 3.3 percent from OMR61.7mn to OMR63.8mn as a result of the firm’s continuous investments.
MENAFN1405201700450000ID1095476145
MENAFN1405201700450000ID1095476145
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