FINANCIAL NEWS

Qatar- Ooredoo posts USD807m profit in 2012

04 Mar 2013

(MENAFN) Qatar Telecom, which last week rebranded itself as Ooredoo, announced that its 2012 profit grew to USD807 million, compared with USD716 million a year before, reported Reuters.

The company added that full-year domestic revenue gained 9 percent, reaching more than USD1.64 billion.

Meanwhile, revenue from its Indonesian unit Indosat rose by 3 percent to USD2.41 billion, while its Iraqi unit, Asiacell reported a 15.9-percent rise in revenue to USD1.89 billion.

However, other units, including Omani unit Nawras and Kuwait’s Wataniya reported declines in their financial results.

Ooredoo said that total group’s revenue for 2012 went up by 6.2 percent to USD9.25 billion.

It is worth noting that fourth-quarter net income climbed by 14.6 percent to USD143.7 million from USD125.17 million in 2011’s same period, whereas quarterly revenue grew to USD2.39 billion from USD2.24 billion.

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