Vodafone Qatar nine-month net profit jumps 17% to reach QR127mn
October 26 2020 08:59 PM
Vodafone Qatar nine-month net profit jumps 17% to reach QR127mn
Vodafone Qatar nine-month net profit jumps 17% to reach QR127mn

Vodafone Qatar’s net profit reached QR127mn in the nine months up to September 2020, reflecting strong growth of 17% from the same period last year, mainly driven by higher EBITDA.

Net profit for Q3 2020 surged by 51% year-on-year (y-o-y) to reach QR46mn.

Total revenue for the period improved by 4% y-o-y to QR1.6bn following service revenue growth of 4%, driven by higher demand for the company’s fixed broadband solutions (GigaHome) and continued growth in its postpaid subscriber base.

EBITDA y-o-y increased by 12% to reach QR591mn, supported by the higher service revenue and continued cost optimisation initiatives. Consequently, EBITDA margin improved by 2.7 percentage points y-o-y to reach 36.7%, the highest ever in the company’s history.

According to Vodafone Qatar, the company's total mobile customers stood at 1.7mn in September this year.




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