(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.