Qtel Group reports 13 per cent fall in net profit in Q3

Qtel Group reported revenues increased by 16.6 per cent year-on-year for the nine months to the end of September, amounting to QAR 23.6 billion (US$6.48 billion).

Revenues in the third quarter alone were up 16.5 per cent to QAR8.127 billion, while EBITDA for the three months amounted to QAR3.73 billion, up 14.1 per cent year-on-year.

However, net profit attributable to Qtel’s shareholders in Q3 was down 13 per cent to QAR567 million.

The group’s consolidated customer base, as at September 30, 2011 stood at 82.4 million, up 19.4 per cent year-on-year. Group EBITDA for the nine months to end-September was up by 14.6 per cent to QAR 10.9 billion while the operator maintained a stable EBITDA margin for the nine months, standing at 46 per cent, down from 47 per cent a year earlier.

Net profit attributable to Qtel’s shareholders increased by 6.4 per cent when normalised for a one-off favourable decision on the royalty regime in Qatar in 2010. The net profit amount attributable to Qtel shareholders for the nine months to end-September stood at QAR 2.0 billion, up from QAR1.9 billion a year earlier.