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Ooredoo Group net profit grows 16% in first 9 months, revenue down 3%

2020-10-29 09:17:00| Telecompaper Headlines

(Telecompaper) Ooredoo Group said its net profit increased by 16 percent to QAR 1.47 billion in the first nine months to 30 September from QAR 1.26 billion in the same period in 2019 in a more favorable foreign exchange environment. Revenue declined by 3 percent year-on-year to QAR 21.41 billion from QAR 21.96 billion because of Covid-19, with a reduction in handset sales and roaming business as well as macroeconomic weakness in some markets. This was partially offset by growth in Indonesia. 

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