Ooredoo Oman reports 27% decline in Q1 profit

      Published on Monday, 1 June , 2020      518 Views     
Ooredoo Oman reports 27% decline in Q1 profit

  • Business

Ooredoo Oman has reported a 27.1% decline in its net profit for Q1 of 2020, ending March 31.

The company’s net profit for the period came at $16m as compared to $22m in the same period of last year.

Ooredoo’s total revenue decreased by 1.7% to $175m during January – March period of this year from $178m in the corresponding period of 2019.

The revenue reduction was partially offset by fixed-line revenues, which continued to deliver double-digit growth for the first quarter of the year.  

Ooredoo’s total subscribers base in Oman also fell by 6.7% as the number of mobile and fixed customers dropped to 2.844m as of March 31, 2020.

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Category Business | 2020/06/01 latest update at 1:00 PM
Source : Internet | Photocredit : Google
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