Vodafone Qatar Q4 Loss Narrows As Customer Base Expands

Vodafone Qatar, an affiliate of Vodafone Group, reported a narrowing fourth-quarter loss on Tuesday as the telecom operator increased its customer base by more than a fifth.

Vodafone, which ended Ooredoo’s domestic monopoly in 2009, made a net loss of QAR32.7 million ($9 million) in the three months to March 31, according to Reuters calculations. That compares with a loss of QAR73.6 million in the prior-year period. The operator’s financial year starts on April 1.

Two analysts polled by Reuters forecast Vodafone Qatar would make a quarterly loss of QAR28.2 million and QAR49.8 million respectively.

The company said it would pay a dividend of QAR0.17 per share.

Vodafone made an annual loss of QAR246 million in the 12 months to March 31. This compares with a loss of QAR400.7 million a year earlier.

Quarterly revenue was QAR550 million, up from QAR435.2 million a year ago.

Vodafone Qatar – 23 per cent owned by parent Vodafone – had 1.33 million mobile customers as of March 31, up 22 per cent from a year earlier.