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(The Group’s Comments) Vodafone Net Profit Rises to QR
43.5 Million in Q1 2019
May 01, 2019
Profits: Vodafone Qatar’s profits climbed to
QR 43.54 million in the first quarter of 2019, an increase of
149%, compared to QR 17.46 million in the same quarter of 2018.
Vodafone did not record any assessment differences in the
statement of comprehensive income for the first quarter of the
current year.
Revenues & Profits: increased by
0.60% to QR 535.1 million, compared to QR 531.9 million in 2018.
However, the company was able to significantly reduce operating
costs, especially those related to networks and rentals, which
reflected positively on profitability. Earnings before interest,
tax, depreciation and amortization (EBITDA) amounted to QR 180.6
million in the first quarter of 2019, an increase of QR 46
million, compared to QR 134.6 million in the corresponding
quarter of last year.
Financing Costs: increased
during the first quarter of 2019 to reach QR 6.0 million,
compared to QR 1.1 million for the same period in 2018, as a
result of increased company obligations and rising interest
rates.
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