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FINANCIAL NEWS
Omantel records lower profit at OMR23.8mn this year
17 Apr 2017
(MENAFN) Oman Telecoms Co. proclaimed that its group revenue for the first quarter of this year reached lower at OMR23.8mn, against
OMR34.8mn for the same period of 2016, a fall of 31.6pct.
In addition, the decline in revenue is attributed to increase in royalty rates effective from Jan 1, this year, while the increase in royalty expense is OMR6.4mn.
However, total group revenue fell by 1 percent to OMR132.6mn, against OMR133.9mn, whereas operating expenses were down by 3.3 percent at OMR63.8mn.
Moreover, the earnings before interest, tax and depreciation and amortization reached lower at OMR68.8mn, against OMR72.2mn for the first quarter of 2016.
MENAFN1704201700450000ID1095398452
MENAFN1704201700450000ID1095398452
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