Ooredoo Net Profit Drops to QR 1092 Million in Q3 2018

October 30, 2018

Ooredoo’s net profit amounted to QR 1,092 million, compared to a net profit of QR 1,559 million for the same period of the previous year, while its earnings per share amounted to QR3.41 for the period ended 30/09/2018, versus QR4.87 for the corresponding period of 2017.

The Group’s Comments:

Ooredoo’s total operating income decreased by 7% to QR22.8 billion, while its operating expenses decreased by 1.8% to QR21.24 billion. After adding other revenues, and subtracting the expenses of the concessions and tax, the company’s net profit decreased by 30% to QR 1,092.1 million. It should be noted that there was a significant negative change in the fair value and currency differentials reached about QR1.7 billion, thus turning the net profit to a comprehensive loss of QR 378.7 million.