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Friday, February 26, 2021

Qatar-based Ooredoo Group’s Q1 profits soar by 75%

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Ooredoo’s first-quarter profit jumped by 75 percent to QR879 million, the locally headquartered telecom firm has said, citing favorable currency fluctuations in Indonesia and Myanmar as the main factor for the increase.

Without the impact of foreign exchange gains and other one-time items, the company’s results for the first three months of 2016 would have been in line with the same period last year, Ooredoo added. In Qatar, the company’s profit went up 1 percent to QR484 million on nearly QR2 billion in revenue, about the same as last year.

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