Vodafone Qatar posts nine-month profit of QR75mn

Vodafone Qatar has reported a net profit of QR75mn in nine months up to September, which represents an increase of QR303mn compared to the same period last year.
Vodafone Qatar said it continued to deliver improvements in its financial and operational performance with postpaid and fixed growth segments driving increase in service revenues while the company’s cost optimisation programme enhanced profitability. 
Total Revenue for the nine months ended September 30, 2018 grew by 5% year-on-year (y-o-y) to reach QR1.53bn, driven by a growth in postpaid subscribers, corporate Internet connections, and handset sales. 
Earnings before interest, taxes, depreciation, and amortisation (Ebitda) increased by 16% y-o-y to QR425mn on higher revenue and lower costs as a result of the cost optimisation programme. Consequently, the Ebitda margin improved by 2.6 percentage points to reach 28%, the company said.
Postpaid customers at September 30 grew by 24% y-o-y. This, together with higher service revenue, resulted in average revenue per user (ARPU) increasing by QR12 y-o-y to reach QR103. 
Vodafone Qatar CEO Sheikh Hamad Abdulla Jassim al-Thani said, “I am very pleased with the company’s positive financial performance driven by a clear strategy and an effective cost optimisation programme. We continued our growth plans by delivering innovative products and unmatched customer experiences across our core mobile offering, on top of expanding our rapidly growing fixed-line proposition.
“In August, we proudly switched on our first live 5G network and the rollout is now well underway in the country. In parallel, we are working with several important entities to roll out our fixed services. Finally, in September, we became one of the first operators in the region and the first in Qatar to introduce eSIM technology.”