Ooredoo Discloses Its Financial Statements for Three-Month Period Ended March 31, 2017.

 

April 26, 2017

 

Ooredoo disclosed the interim financial statement for the three-month period ended March 31, 2017. The financial statements revealed a net profit of QR 584 million in comparison to net profit QR 879 million for the same period of the previous year.

 

The Earnings per Share (EPS) amounted to QR 1.82 as of March 31, 2017 versus EPS QR 2.74 of the same period in 2017.

 

The Group's Comment

Ooredoo's revenues reached QR8 billion in the first quarter of 2017, compared to QR 7.9 billion in the same period last year. Total income hit QR 7.18 billion, including QR 2.95 billion operational expenses, QR 1.7 billion sale expenses, QR 2.1 billion depreciation expenses, QR 433 million net financing cost. Adding other sources of income worth QR71 million, shares from associate companies worth QR11.3 million, deducting taxes worth QR 148.3 million, then profit attributable to shareholders drops by third to QR 584 million. There was a positive change in the currencies exchange rate which pushed the comprehensive income attributable to shareholders to QR 872.5 million, though still below that of the same period last year at QR 1397.6 million.