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Wed 30 Apr 2014 12:39 PM

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Oman telco Nawras Q1 profit rises 14%

Fixed line and mobile data revenue grew and earnings from international calls increased

Oman telco Nawras Q1 profit rises 14%

Oman's No.2 telecom operator, Nawras, reported a 14 percent rise in first-quarter net profit on Wednesday as fixed line and mobile data revenue grew and earnings from international calls increased.

The firm, majority-owned by Ooredoo, made a net profit of OMR8.8m ($22.86m) in the three months to March 31, up from OMR7.7m in the year-earlier period, according to a statement to Muscat's bourse.

It reported declining profits in 11 of the previous 13 quarters.

Two analysts polled by Reuters forecast Nawras, which ended Oman Telecommunication Co's (Omantel) monopoly in 2005, would make a quarterly profit of between OMR9.5m and OMR9.79m.

First-quarter revenue was OMR52.7m. This compares with OMR48.2m a year ago.

"The growth is driven by increases in both fixed and mobile data revenue as well as international voice revenue offset by a decrease in SMS (text) revenue," Nawras said in the statement.

Nawras had OMR2.43m customers at March-end, up 8.9 percent from a year earlier.

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