Country's No 2 telecom operator has posted rising profits in six of the preceding eight quarters
Ooredoo Oman, the sultanate's No.2 telecom operator, reported a 17.8 percent rise in first-quarter net profit on Thursday, its seventh rise in nine quarters.
The firm, majority-owned by Qatar's Ooredoo, made a net profit of 12.6 million rials ($32.73 million) in the three months to Mar. 31, it said in a statement. This compares with a profit of 10.7 million rials in the year-earlier period.
Gulf Baader Capital Markets forecast Ooredoo Oman would make a quarterly profit of 10.9 million rials.
Ooredoo Oman, which ended Oman Telecommunication Co's (Omantel) monopoly in 2005, had reported rising profits in six of the preceding eight quarters.
First-quarter revenue was 66.1 million rials. This compares with 59.3 million rials a year earlier, the statement added.For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.