Now Reading
Vodafone Qatar Q4 Loss Narrows As Customer Base Expands

Vodafone Qatar Q4 Loss Narrows As Customer Base Expands

Vodafone made an annual loss of QAR246 million in the 12 months to March 31.

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.

© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top