Vodafone Qatar Q1 net profit jumps 38% y-o-y to QR66mn

Vodafone Qatar maintained its growth trajectory in the first quarter of the year, reporting a net profit of QR66mn for the three months that ended in March, representing an increase of 38% year-on-year. This is the highest ever quarterly net profit in Vodafone Qatar’s history.Total revenue increased by 8.3% year-on-year to reach QR585mn driven by continued growth in the company’s postpaid revenue and fixed broadband services in addition to higher handset sales. Service revenue grew by 5.1% to reach QR534mn. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the period increased by 17% year-on-year to reach QR234mn, led by higher service revenue and the continued effectiveness in implementing the company’s cost optimisation programme. Consequently, EBITDA margin rose by three percentage points to 40%. Vodafone Qatar is now serving 1.7mn mobile customers.