Vodafone Qatar has reported an improvement in its net profit (excluding amortization) in the first quarter (Q1) of the company’s current financial year ended June 30, which increased to QR44m, compared to Q1 of the previous financial year (2017) when net profit was close to break even.
Total revenue of the telecom operator for Q1 2018 touched QR516m, up 3.1 percent (year-on-year) compared to Q1 2017.
Vodafone follows its financial year from April-March.
EBITDA (earnings before interest, taxes, depreciation and amortization) stood at QR139m, a significant increase of 38.6 percent year-on-year with a 6.9 points improvement in EBITDA margin to 26.9 percent, aided by better mix of revenues and by maintaining strong cost control.
Vodafone Qatar’s customers number increased to 1.46 million (to be exact 1,463,596), witnessing a marginal increase of 0.4 percent year-on-year.
Commenting on the results, Vodafone Qatar’s Chief Executive Officer, Ian Gray (pictured), said: “The Company’s Q1 results reflect the continued improvements in operational and financial performance. Total revenue grew by 3.1 percent to reach QR516m at the end of June 30, 2017 driven by growth in both postpaid and fixed line services.”
He added: “By the end of June we achieved our highest ever performance in customer appreciation of our services reflecting the high quality of our network and customer services. We strive to provide our customers with world-class service every day and a recent outage of our network is most disappointing to our customers and to us. We want to assure customers that we intend to justify their trust and that the You First compensation programme thanks them for their patience and loyalty. We now remain focused on implementing the company’s strategy to expand from our core mobile strength, further invest in fixed line activities and building on our international reputation through innovation and delivery of quality products and services.”
