Vodafone Becomes Profitable with a Net Profit of QR17.5 Million in First Quarter of 2018

May 1, 2018

Vodafone Qatar's net profit amounted to QR17.5 million compared to a net loss of QR74.2 million for the same period last year. The company’s earnings per share reached QR0.02 in Q1 2018, versus a loss per share of QR0.09 for the corresponding period in 2017.

The Group’s Comments:

The revenues of Vodafone Qatar rose slightly in the first quarter of 2018 to QR531.9 million. The company’s connectivity and network expenses decreased marginally to QR336.9 million, and personnel costs rose to QR60.4 million. As a result, the company recorded its first net profit of QR18.9 million, versus a loss of QR74.2 million in the corresponding period of 2017.