Net profit up 32% at Nawras in Q2

Nawras today reported that total revenues for second quarter amounted to OMR55.5 million (US$144 million), up 10.6 per cent year-on-year. EBITDA for the quarter came in at OMR30.1, up 27.5 per cent, while net profit was up 32 per cent year-on-year to OMR9.9 million.

For the first half of 2014 revenues increased by 10 per cent to OMR108.2 million, driven by increases in both fixed and mobile data revenues as well as voice revenue offset by a decrease in SMS revenue.

EBITDA for H114 stood at OMR56.7 million, up 22 per cent year-on-year.

Net profit for the period amounted to OMR 18.7 million, up 23 per cent year-on-year, driven by higher EBITDA partially offset by a higher depreciation cost due to network modernisation.

Nawras’ total number of customers grew by 7.7 per cent in the half, to 2.47 million, with fixed line customers growing by nearly 13.4 per cent year0n-year to 64,192 customers, and mobile post-paid customers growing by 2.6 per cent to number 190, 531 customers. Mobile prepaid customer numbers grew by eight per cent to 2.22 million as of June 30.