(The Group’s Comment) Ooredoo Net Profit Rises by 15.5% to QAR 1.26 billion in the 3^rd Quarter 2019

Ø  Profits: The Company’s profits for the 9 months ended 30 September 2019 increase by 15.85% to reach QAR 1265.2 million versus QAR 1092.1 million for the same period 2018. Earnings per share amounted QAR 0.39 versus QAR 0.34. The 3^rd quarter’s profits amounted QAR 424.0 million versus QAR 403.2 million for the similar quarter 2018.

Ø  Comprehensive income: The Company recorded valuation profits for the period of nearly QAR 173.23 million compared to losses of QAR 1697.28 million for the same period last year 2018.

Ø  Revenues: Revenues declined by 2.5% an amount of nearly QAR 566 million. Revenues for the period amounted QAR 21.97 billion versus QAR 22.53 billion for the equivalent period 2018. Major decline was in the equipment and appliances sales division which has declined by QAR 487.0 million between the two periods. On the other hand, revenues of the telephone services by QAR 89.7 million considering that the telephone services revenues has witnessed an improvement within the 3^rd quarter and increased by QAR 148.5 million.

Ø  Other revenues: Other revenues item has jumped from QAR 292.3 million as of 30 September 2018 to QAR 410.8 million as of 30 September 2019, a 40.5% rise. The decrease in the exchange rates losses had its impact on the period’s results where the Company’s losses from this item stood at QAR 1.11 million compared to QAR 436.1 million for the same period 2018. The impact of the exchange rates items between the two periods amounted QAR 435.0 million.

Ø  Expenses: Expenses for the period reduced by 4.4%, QAR 945.0 million approximately which left its impact on the results. It is worth-mentioning here the reduction in the tax expense for the period by QAR 124.0 has given a positive push to the Company’s results.