DUBAI: Oman's No.2 telecom operator Nawras, posted an 11.1 percent rise in third-quarter profit on Wednesday as its customer base and revenue increased, marking a turnaround after the firm posted falling profits in the previous six quarters.
The firm majority-owned by Qatar's Ooredoo, made a net profit of 8 million rials or $20.8 million in the three months to Sept. 30, up from 7.2 million rials in the year-earlier period.
Two analysts polled by Reuters forecast Nawras, which ended Oman Telecommunication Co's (Omantel) monopoly in 2005, would make a quarterly profit of between 7.8 and 8 million rials.
Third-quarter revenue was 50.8 million rials, Nawras said in a statement.
This compares with 46.9 million rials a year ago.
The company's customer base rose 10.9 percent to 2.36 million.
Oman is the only Gulf country to have launched mobile virtual network operator (MVNO) services.
Omantel hosts MVNOs Friendi and Renna, which have helped it win back customers from Nawras. (Reuters)
