Ooredoo Oman reported 16.2% rise in net profit

21/07/2015 19:42 AST

Ooredoo Oman, the sultanate's No.2 telecom operator, reported a 16.2 per cent rise in second-quarter net profit on Tuesday.

The firm, majority-owned by Qatar's Ooredoo, made a net profit of RO11.5 million ($29.9 million) in the three months to June 30, up from RO9.9 million in the year-earlier period.

Gulf Baader Capital had forecast Ooredoo Oman to make a net profit of RO11 million in the quarter.

It has reported rising profits in five of the preceding seven quarters, but before that profits fell for seven straight quarters.

Second-quarter revenue was RO62.6 million, the company said in a bourse statement. This compares with RO55.5 million a year ago.

The company had 2.75 million mobile and fixed line subscribers as of June 30, up 11.4 per cent from a year earlier.

Ooredoo Oman ended Oman Telecommunication Co's (Omantel) monopoly in 2005.

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