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FINANCIAL NEWS
Qatar’s Ooredoo reports flat net profit in Q4
23 Feb 2017
(MENAFN) Ooredoo, Qatari telecom operator, reported its net profit for Q4 flat as currency depreciations in North Africa dented revenue.
While the earnings of the former monopoly that operates a dozen territories across the Middle East, Africa and Asia had been hit from 2013 by foreign currency exchange losses, a strong domestic performance had helped mitigate the impact.
According to a statement released by the telecom operator, it made a net profit of 361 million Qatar riyals (USD99.1 million) in the three months to December.
Also, revenues in its Algerian and Tunisian units dropped 7% and 5.5%, respectively.
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