Ooredoo Net Profit Drops to QR486 Million in First Quarter of 2018

April 29, 2018

Ooredoo’s net profit amounted to QR486 million in the first quarter of 2018, compared to QR584 million for the same period of the previous year. The company’s earnings per share recorded QR1.52, versus QR1.82 for the corresponding period in 2017.

The Group’s Comments:

Ooredoo’s gross operational revenues fell by 3.5% to QR7.76 billion in the first quarter of 2018. Total expenditure stood unchanged at QR7.17 billion, of which QR3.1 billion were operating expenses, QR1.55 billion were general and administrative expenses, and QR2 billion were depreciation and amortization expenses. After adding other income and expenditures, the net profit attributable to the shareholders decreased by 16.2% to QR486 million, and after adding currency and other income, the comprehensive income amounted to QR647.9 million compared to QR872.5 million during the corresponding period in 2017.