Qtel quarterly revenue up 16.5%, subs base up 13.9%

Qatar Telecom (Qtel) announced that group revenue increased by 16.5 per cent to QAR 7.5 billion (US$1.76 billion) during the first quarter ended March 31, fuelled by ongoing growth across its international portfolio.

The group’s consolidated customer base grew by 13.9 per cent to stand at 75.6 million, while EBITDA increased 17 per cent to QAR 3.6 billion. Qtel said EBITDA margin remained robust throughout the period at 48 per cent.

Net profit attributable to Qtel shareholders stood at QAR 800 million, down from QAR 1.2 billion a year earlier.

Highlights of the quarter included the acquisition of an additional shareholding in Tunisiana resulting in 100 per cent consolidation in group results, and a successful public listing of Wataniya Mobile Palestine.