MUSCAT: Ooredoo Oman, the sultanate’s second biggest telecommunications operator, reported a 5.6 percent fall in third-quarter net profit as provisions for assets rose.
The firm, majority-owned by Qatar’s Ooredoo, made a net profit of 10.2 million rials ($26.5 million) in the three months to Sept. 30, down from 10.8 million rials in the year-earlier period, it said in a bourse filing.
Ooredoo Oman blamed higher provisions for old assets as part of network modernisation.
Third-quarter revenue was 65.0 million rials, compared with 57.9 million rials a year ago.
The company had 2.77 million mobile and fixed-line subscribers as of Sept. 30, up 10 percent from a year earlier.
