Companies
Omantel posts RO107mn net profit
Oman Telecommunications Company (Omantel), the Sultanate’s biggest telecommunication firm, has posted a net profit of OMR106.80 million for 2017, down from OMR115.80 million registered for the previous year.
Following the acquisition of a controlling stake in Kuwait’s Mobile Telecommunications Company (Zain Group), Omantel group results include Zain results for the period from November 15, 2017 to December 31, 2017, said a disclosure statement posted on MSM website.
The group revenue recorded an increase of 44.7 per cent to reach OMR751.7 million compared to OMR519.3 million of the same period of 2016. The increase is mainly on account of the consolidation of Zain’s revenue, which contributed OMR219.6 million to the total revenue.
The group’s net profit for year 2017 includes OMR35.7 million contributed by Zain Group. After adjusting for the minority interest, Zain group contributed profit of OMR7.6 million to the group profit.
-
OER Magazines2 months ago
OER, September 2024
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, September 24
-
Uncategorized1 month ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
Commodities1 month ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
Banking & Finance2 months ago
Apple Pay Officially Launched in Oman
-
Oil & Gas1 month ago
OQEP Appoints United Securities as Liquidity Provider Ahead of Landmark MSX Listing
-
OER Magazines3 weeks ago
Signature, October 24
-
Alamaliktistaad Magazines3 weeks ago
Al-iktisaad, October 24
You must be logged in to post a comment Login