Ooredoo Oman reports 36% increase in Q3 net profit

Ooredoo Oman reported that total revenues for the third quarter of 2014 amounted to OMR57.8 million (US$150 million), up 13.9 per cent year-on-year, while EBITDA came in at OMR31.2 million, up 27.3 per cent.

Net profit for the quarter stood at OMR10.8 million, an increase of 35.9 per cent year-on-year.

For the first nine months of 2014 revenues grew by 11.3 per cent to OMR 166.1 million (US$431.5 million). The growth is driven by increases in both mobile and fixed data revenue as well as international voice revenue.

EBITDA for the nine month period was OMR 87.9 million, up 23.6 per cent, driven by higher revenue.

Net profit for the nine month period was OMR 29.5 million, up 27.7 per cent due to an improvement in EBITDA.

The total number of customers grew by 6.5 per cent during the first nine months of 2014, up from to 2,514,231.

Fixed service customer base decreased by 2.4 per cent to 59,630 customers in the first nine months of 2014, which the telco said is due to a transition period during which it upgraded its home broadband technology. The mobile postpaid customer base grew by 2.8 per cent to 192,427 customers, while the mobile prepaid customer base for the first nine months of 2014 increased by 7.1 per cent to 2,262,174.