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FINANCIAL NEWS
Omantel logs 7.2 percent surge in income over Jan-Sep
15 Nov 2015
(MENAFN) Oman Telecommunications (Omantel) saw its overall income jump by 7.2 percent to USD991.5 million throughout the Jan-Sep period, based on reports.
The revenue growth has hardly reflected any profits gaining, as its gross profit fell to USD234.6 million for the cited period from USD248 million recorded in 2014.
The positive income was non the back of rising local retail revenues, let alone the solid performance of fixed and mobile broadband as well as wholesale services.
On the other hand, the disappointing net profit was mainly due to the loss suffered by Omantel’s subsidiary Worldcall in addition to the non-recurrent costs.
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