Vodafone Net Loss Decreased to QR182.2 Million in The Nine Months Ended 31 December 2017

February 28, 2018

Vodafone Qatar's net loss amounted to QR182.2 million in the shortened fiscal year of 2017, compared to a net loss of QR269.2 million for the financial year ended 31 March 2017. The loss per share for the nine month period was QR0.22, compared to a loss of QR0.32. The company’s board did not recommend to distribute any dividends.

The Group’s Comments:

[The comparison is between 9 months in 2017, and 12 months in 2016, which shows a drop of about 25%]

Vodafone's revenues decreased by 28.1% to QR1,481 million in the nine months ended 31 December 2017. Connectivity expenses decreased by 27% to QR540.7 million, as well as employee expenses that dropped by 24.7% to QR174.6 million, and other expenses fell by 30.4% to QR383.3 million. As a result, profits fell by 24.1% to QR407.4 million, while depreciation and amortization expenses decreased to QR568.7 million, resulting in losses of QR182.2 million.