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FINANCIAL NEWS
Qtel revenue surges 16.55% to USD2.06b in Q1
01 May 2011
(MENAFN) Qatar Telecom (Qtel) Chief Executive Officer, Dr. Nasser Marafih, stated that the company’s revenue hiked 16.55 percent to USD2.06 billion in 2011’s first quarter, reported Times of Oman.
The CEO added that the firm’s Q1 profit rose 15.7 percent compared to last year’s first quarter. He pointed out that the good results in the first quarter were thanks to Qtel’s strong international performance.
Dr. Marafih also said that the firm’s earnings per share went down to USD1.2 from last year’s USD1.9 in the first quarter. He explained that the decrease in the figure was due to the issuance of 20 percent bonus shares in 2011’s Q1.
It is worth noting that Qatar Telecom is the telecommunications service provider licensed by the Supreme Council of Information and Communication Technology (ictQATAR) to provide both fixed and mobile telecommunications services in the state of Qatar.
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