Doha: Vodafone Qatar reported a net profit of QR48m for the first quarter of 2020, representing an increase of 10 percent year-on-year; the company’s highest achieved quarterly net profit.
Total revenue increased by 1 percent year-on-year to reach QR541b driven by continued growth in the company’s Postpaid and Fixed Broadband services (GigaHome). Service Revenue grew by 7.2 percent to reach QR508m. Vodafone Qatar is now serving 1.73 million mobile customers.
EBITDA for the period increased by 11 percent year-on-year to reach QR200m positively impacted by higher service revenue, the continued effectiveness in implementing the Company’s cost optimisation programme, and lower local termination rates. Consequently, EBITDA Margin rose by 3.2 percentage points to 37 percent.
