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FINANCIAL NEWS
Oman Telecommunications Co. Q2 net profit declines
06 Aug 2013
(MENAFN) Oman Telecommunications Co. announced a net profit decline of 2.2 percent in Q2 resulting from high expenses and providing international calls, reported by Gulf news.
Omantel, the country”s biggest telco, reached a USD81.8 million net profit from down from USD83 million in the same period last year.
Omantel stated that its operating expense boosted 4.9 percent for the first six months of this year reaching USD453.8 million as a result of the increased costs of international calls that boosted external expenses.
Dr. Amer Awadh Al Rawas, chief executive of Omantel, said: “Omantel has continued to see a steady growth despite the decline of revenue from some services, thanks to the growth of mobile and fixed broadband services which offset the decline witnessed in other services revenues such as SMS.”
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