Ooredoo net profit hits USD571.21m in 9M

28 Oct 2014

(MENAFN) Ooredoo announced it has registered a net profit of USD571.21 million during the January-September period of this year, rising by 0.5 percent compared to the same period last year, while registering an increase of 11 percent in its net profit for the July-September period, which reached USD102 million, The Peninsula Qatar reported.

During the first nine months of this year, the Group revenue declined 3 percent to USD6.74 billion compared the same period last year, while the Group’s consolidated customer base reached 95.7 million representing a growth of 7 percent compared with 89.6 million people registered in the same period in 2013.

Meanwhile, Ooredoo Qatar also delivered strong results during the period, with registered growth in its revenue and increased market share from data services, which resulted in the company registering USD1.36 billion in revenue, which is an increase by 9 percent compared to the same period last year when it reached USD1.08 billion, while customers increased by 8 percent to 3 million.

Ooredoo said that their strong financial results for the nine months demonstrate the clear progress of the company’s strategy to create a world-leading, data centric business by increasingly building a growing level of revenue from data as well as achieving strong results in their domestic market in Qatar in addition to and in Algeria.

“Ooredoo has delivered a solid set of results despite the challenges facing some of its markets. The increasing use of data by our customers and Ooredoo’s move into new service capabilities such as financial transactions demonstrate the enormous power of our best-in-class data networks. Our networks and services continue to bring positive change across our markets,” Ooredoo Chairman said