MUSCAT: Ooredoo reported a net profit of OMR10.7 million for first quarter 2015 compared to OMR8.8 million for the same period of 2014. The net profit increased by 21.6 per cent due to an improvement in earnings before interest, taxes, depreciation, and amortisation (Ebitda) that was partially off-set by investment in network modernisation and expansion.
Omani Qatari Telecommunications Company (or Ooredoo) released its unaudited financial results for the nine months ended on September 30, 2014 on Wednesday.
The telecom service provider said its revenues for first quarter 2015 grew 12.5 per cent to OMR59.3 million compared to OMR52.7 million in first quarter 2014. The growth was driven by increases in both mobile and fixed data revenue.
Ebitda for first quarter 2015 was OMR33.8 million compared to OMR27.3 million in first quarter 2014 due to higher revenue.
Total number of customers grew by 11.6 per cent in first quarter 2015 from 2,432,751 to 2,714,716. The fixed service customer base decreased by 11.1 per cent to 58,435 customers in first quarter 2015 compared to 65,728 in same period 2014.
This was due to the transition period to a new Home Broadband technology that will bring improved services to our customers. The mobile post-paid customer base grew by 5.1 per cent to 199,206 customers compared with 189,554 customers in first quarter 2014. The mobile pre-paid customer base for first quarter 2015 increased by 12.8 per cent to 2,457,075 compared to 2,177,469 for the same period last year.
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