Nawras bottom-line impacted by depreciation cost

Oman based mobile network operator, Nawras has posted a modest rise in its second-quarter revenues, but saw its profits plunge by nearly a quarter.

Revenues rose by 3.7 per cent to reach OMR50.2 million (US$130 million), driven by increases in both fixed and mobile data revenues offset by decreases in SMS and national voice revenue.

Net profit however fell by 22.7 per cent to OMR7.5 million, which the company said was due to lower EBITDA and higher depreciation cost due to network modernisation.

The total number of customers grew by 13.1 per cent, to 2.29 million at the end of the first half of 2013 compared to 2.03 million a year ago.