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Monday, October 25, 2021

Vodafone narrows losses, gains mobile subscribers

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Vodafone Qatar posted a net loss of QR122 million in the third quarter, less than the QR144 million in the same period a year ago, but still falling short of analyst expectations.

Qtel’s only competition also added some 15,000 subscribers between September and December, bringing its total up to 797,000 – up 12 percent from a year ago.

Reuters reports:

Vodafone Qatar, which ended Qatar Telecom’s (Qtel) domestic monopoly in 2009, said revenue was 316 million riyals in the quarter, up from 267 million riyals a year earlier.

The operator will look to improve indoor coverage, increase data speeds and prepare to launch contract services in the fourth quarter, chief executive Richard Daly said in the statement.

Vodafone Qatar only offers pre-paid mobile contracts at present.

In a sign that Vodafone may finally be digging into its competitor’s earnings, Qtel posted a 13 percent drop in net profit for its third quarter two months ago.

And ictQatar has promised Qatar residents that they will be able to switch mobile phone providers without losing their numbers by this summer, which may encourage more people to try out Vodafone.

Photo courtesy of Vodafone-Qatar’s Facebook page.

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