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Vodafone Qatar Net Profit in 2019 Surges by 22%

Financial results News - Published on Wed, 05 Feb 2020

Image Source: qatarliving.com
Vodafone Qatar reported its second consecutive profitable year with net profit of QAR 144 million for 2019, up 22 percent increase compared to the previous year. Total revenue of the Company increased by 1 percent (year-on-year) to reach QAR 2.125 billion driven by higher demand for the Company’s postpaid and broadband services. Service revenue grew by 2.4 percent to reach QAR 1.949 billion. Vodafone Qatar is now serving 1.74 million mobile customers with solid growth coming from the Postpaid and Fixed product plans.

EBITDA for the reported period stood at QAR 709 million representing an increase of 21 percent compared to last year, positively impacted by higher service revenue, lower costs and the adoption of International Financial Reporting Standard. Consequently, EBITDA Margin improved by 5.6 percentage points to reach 33.4 percent.

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Posted By : TelecomGuru on Wed, 05 Feb 2020
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