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FINANCIAL NEWS
Omantel posts 2.5% decline in Q1 profit
10 May 2013
(MENAFN) Oman Telecommunications announced that its profit during the first three months contracted 2.5 percent to USD75.6 million, reported Gulf Daily News.
The company’s revenue was up 0.3 percent to USD297.3 million for the first quarter, as subscriber base grew.
However, network upgrades and increased costs led to a 5.4 percent jump in operating expenses.
It is worth noting that telecoms in the region are suffering from a decrease in voice call revenue as more users rely on chat applications such as Whatsapp.
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