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Vodafone Qatar’s net profit increases 17% to QR127 mn in 9 months

Vodafone Qatar’s net 
profit increases 17% to QR127 mn in 9 months

Tribune News Network
Doha
Vodafone Qatar on Monday announced that it registered a net profit of QR127 million in the first nine months of 2020, reflecting strong growth of 17 percent from the same period last year.
Net Profit for the third quarter of 2020 increased by 51 percent year-on-year to reach QR46 million.
According to the telecom operator, the increase in net profit was mainly driven by higher earnings before interest, taxes, depreciation, and amortisation (EBITDA).
Total revenue for the period improved by 4 percent year-on-year to QR1.6 billion following service revenue growth of 4 percent driven by higher demand for the company’s fixed broadband solutions (GigaHome) and continued growth in its postpaid subscriber base.
EBITDA year-on-year increased by 12 percent to reach QR 591 million, supported by the higher service revenue and continued cost optimisation initiatives.
Consequently, EBITDA margin improved by 2.7 percentage points year-on-year to reach 36.7 percent, the highest ever in the company’s history.
The total number of mobile customers was 1.7 million at the end of September 30 this year, the company said.

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