Vodafone Qatar reported a net profit of QR260mn, representing a 20.1% year-on-year (y-o-y) increase, mainly driven by higher EBITDA.
Total revenue increased by 8% y-o-y to reach QR1.55bn due to continued growth in the company’s postpaid, fixed broadband services (GigaHome), managed services, Internet of Things (IoT), and handsets. Service revenue grew by 11.8% to reach QR1.37bn. Net profit margin also increased by 1.7 ppts to 16.8%.
EBITDA for the period increased by 7.5% y-o-y to QR634mn primarily driven by higher service revenue and the continued effectiveness in implementing the company’s cost optimisation programme. EBITDA margin was largely stable at 40.9%. Vodafone Qatar is now serving 2.1mn mobile customers representing an increase of 4.1% y-o-y.
