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Qatar Telecom Q2 net profit rises by 18%

15 Aug 2011

(MENAFN) Qatar Telecom (Qtel) stated that due to the increase of its clients number, the company’s net profit in the second quarter grew by 18 percent reaching USD184.8 million , reported Arab News.

The company added that the Wataniya Group portfolio in Algeria and Kuwait showed significant growth. Moreover, in spite of the Tunisian political climate, the mobile division recorded a strong performance.

Qtel said that it acquired a 65 percent stake in Indonisia’s second largest mobile operator, Indosat, which subscribers’ number grew by 23.7 percent during the first half of the year, whereas the Wataniya Group’s subscribers went up by 6.8 percent in the same period.

It is worth mentioning that Qtel witnessed considerable growth now operating in 17 countries around the world.

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