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FINANCIAL NEWS
Oman’s Nawras reports USD25.5m profit in Q1
25 Apr 2012
(MENAFN) Oman’s Nawras, majority owned by Qatar Telecom (Qtel), reported a 19.1 percent drop in quarterly profits over a fall in SMS service income, Reuters reported.
The telecoms operator said it made a USD25.5 million net profit in the first quarter, down from USD31.34 million a year earlier.
Revenue also fell 2.7 percent to USD121.21 million, while subscribers rose 2.4 percent to 1.99 million.
Nawras said that the drop in SMS (text) revenues was not fully compensated by growth in data revenue, adding it made a one-off accounting gain of USD1.7 million in the quarter.
Nawras and rival operator Oman Telecommunications Co (Omantel) are in talks with the government to be assigned coveted lower-frequency spectrum to aid rising demand for mobile data.
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