Qatar telecom Q4 profit drops by 7%

www.WirelessFederation.com/news: Due to non operational provisions in Kuwaiti’s Wataniya subsidiary, 7.9% drop in the fourth-quarter profits of QAR431 million (US$118 million) has been reported by Qatar Telecom (Qtel). 9% increase in the revenue has been shown, going up to QAR6.54 billion (US$1.8 billion) while the EBITDA was up by 4.6% to QAR2.97 billion. However, the EBITDA margin fell to 45% from 47%.

The net profit was up by 20.5% to QAR2.78 billion (US$764 million) for the full year and revenues on the other hand grew by 18.2% to QAR24 billion (US$6.6 billion).

With a rise of 5.2% over the year, 60.53 million customers were gained by Qtel across all its markets.

According to His Excellency Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman of the Qtel Group, this has been a year of real achievement for the Qtel Group and now the company is the largest telecommunications provider in the Middle East – North Africa region by number of operations while the diversified operations have delivered strong returns and enabled the firm to thrive in a highly competitive and challenging environment.”