Ooredoo Group Posts 75% Higher Q1 Profit, Data Makes Up 38% of Total Group Revenue

Ooredoo Group Posts 75% Higher Q1 Profit, Data Makes Up 38% of Total Group Revenue Image Credit: Ooredoo

Ooredoo’s first-quarter profit jumped by 75 percent higher to QR879 million ($241 million) on the back of group revenue that reached QR7.9 billion ($2.2 billion). The increase is mainly due to the positive Foreign Exchange impact in Indonesia and Myanmar and is supported by a strong revenue growth in these countries as well as in Oman, Kuwait and Maldives. 

Ooredoo Group’s customer base reached 118 million at the end of the first quarter, a 6% or 7 million year-on-year increase, driven by strong acquisitions in Myanmar, Indonesia, Algeria and Qatar.

The group's data revenue increased further and covers now 38% of the total Group revenue (Q1 2015: 30%) due to Ooredoo’s focus on network expansion and modernization and its strategy of marketing innovative data services for individuals and businesses, according to Ooredoo. 

H.E. Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, Chairman of Ooredoo
Our diverse range of services attracted 7 million new customers and we now have 118 million customers globally. Revenue and EBITDA grew in local currency terms demonstrating the strength of our underlying business.  We have streamlined our portfolio with the sale of wi-tribe Pakistan and are concentrating on our core technologies. 

H.E. Sheikh Saud bin Nasser Al Thani, Group Chief Executive Officer of Ooredoo
The first three months of 2016 demonstrated  robust performances in our key markets of Qatar, Oman, Indonesia and Myanmar. Our results have been impacted by the challenges in Iraq due to the security situation as well as the sustained economic slowdown in Tunisia. 

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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