Qtel exceeds Q3 profitability forecasts by some measure

Qtel Group announced that Q312 revenues reached QAR 8.64 billion (US$2.37 billion), in line with analyst consensus estimate of QAR 8.48 billion. EBITDA was up four per cent year-on-year to QAR 3.86 billion, four per cent below consensus estimates of QAR 4.02 billion.

Net profit was up 73 per cent year-on-year reaching QAR 1.076 billion.

As of September 30 the Group’s consolidated customer base stood at 89.2 million, representing an 8.2 per cent year-on-year increase in total customer numbers.