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Wed 11 Nov 2009 10:04 AM

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Omantel's Q3 profit edges up 1.9% to $85.2m

Omani telecoms operator posts profit below analysts' forecast.

Oman Telecommunications Co

made a third-quarter net profit of OR32.8m ($85.21m), up 1.86 percent from a year earlier.

The company made a net profit of OR105.8m rials in the first nine months of the year compared with OR107.4m in the same period in 2008, it said in a statement.

Reuters calculated third-quarter earnings based on previous data. It made a net profit of OR32.19m in the third quarter of 2008.

The earnings came in below forecasts by two analysts.

The company said revenue for the nine months to Spet. 30 fell to OR303.8m, down 1.2 percent compared with a year ago. Operating expenses rose 3.6 percent to OR190.3m.

The stock edged up 0.3 percent on Tuesday. The results were announced after trading hours. (Reuters)

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