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FINANCIAL NEWS
Qatar’s Ooredoo posts USD253m profit in Q2
31 Jul 2013
(MENAFN) Qatar Telecom (Ooredoo) reported a 44 percent jump in quarterly earnings on higher revenue from the group’s units in Iraq and Indonesia, Reuters reported.
The company, formerly known as Qtel, said it made a net profit of USD253.5 million during the second quarter, up from USD175.9 million a year earlier.
Ooredoo also reported USD2.4 billion revenue in the April-June quarter, up from USD2.28 billion a year ago.
The company said that revenue from its Indonesia unit grew by 6.8 percent in the first six months of 2013 to USD1.2 billion, while its Iraq business reported a 5.3 percent increase to USD690.51 million.
The firm plans to invest USD15 billion in Myanmar after winning a telecom license in the Asian country last month.
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