Ooredoo registers 3 percent increase in revenues

Business & Finance
Company reports revenue of QR22.1 billion in first nine months of 2021
Team 24x7Qatar

Ooredoo has reported QR22.1 billion in revenues for the nine months that ended in September 2021.

The company said in a statement that revenues increased 3 percent; excluding FX, the company said revenue grew 6 percent.

Ooredoo said the results were boosted by Qatar, Indonesia, and Tunisia, the QNA reported.

Group EBITDA for the nine-month period was QR9.9 billion with a corresponding EBITDA margin of 45 percent, driven by growth in Indonesia, Kuwait and Algeria.

The EBITDA growth rate stood at 7 percent and at 10 percent excluding FX impact.

Group Net Profit attributable to shareholders turned negative mainly due to FX losses and the impairments in Myanmar. The negative impact was partly offset by profit from the sale and leaseback of

Indosat Ooredoo’s tower assets (QR1,000 million) and reversals of COVID-19 FX provision. Excluding these one-offs and FX impact, Net Profit increased by 41 percent.

Leave a Reply

Your email address will not be published. Required fields are marked *