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› Ooredoo Group net profit rises by 10% in 2019 on stable revenue, customer base broadens by 2%
Ooredoo Group net profit rises by 10% in 2019 on stable revenue, customer base broadens by 2%
2020-02-14 09:20:00| Telecompaper Headlines
(Telecompaper) Ooredoo Group has announced that its net profit for the year ended 31 December 2019 increased by 10 percent to QAR 1.73 billion from QAR 1.57 billion in 2018. There was an increase in EBITDA and a more favorable foreign exchange environment compared with 2018, but IFRS 16 had a negative effect on net profit. Revenue was stable at QAR 29.92 billion compared with QAR 29.93 billion, in spite of the industry-wide shift from voice to data consumption, lower handset sales and macroeconomic and currency weakness in some markets.
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