Mubasher: Vodafone Qatar posted positive results for the third quarter and nine-month periods of 2018.
The Qatari operator turned profitable between January and September with QAR 75 million in net profit versus QAR 227.7 million in net losses in the same period of 2017.
Total revenues increased 5% year-on-year to QAR 1.535 billion in the nine-months ended 30 September 2018, backed by a rise in postpaid subscribers, corporate internet connections and handset sales, Vodafone Qatar said in a bourse filing.
By the end of the first nine months of 2018, the Qatari operator’s postpaid customers surged 24% year-on-year. In addition, the company witnessed a rise in service revenue, which resulted in Average Revenue Per User (ARPU) increasing by QAR 12 year-on-year to reach QAR 103.
As for the third quarter of 2018, the company achieved a year-on-year profit growth of 46% to QAR 26.4 million.
Earnings per share (EPS) for the nine-month period was QAR 0.09 versus a loss per share (LPS) of 0.27 in the same period of 2017.
Earlier this week, Vodafone Qatar obtained an approval from the Qatar Financial Markets Authority (QFMA) and the economy and trade ministry to reduce its capital.
