Doha – Mubasher: Qatari telecom provider Ooredoo said on Wednesday that its profit for the first quarter of fiscal 2016 rose by 75% year-on-year.
Net profit reached QAR 879 million ($241.40 million) in Q1-16, versus QAR 501 million ($137.59 million) in Q1-15, according to a statement released by the company.
However, total revenue declined 2% y-o-y to QAR 7.9 billion ($2.17 billion) by the end of March 2016, compared to QAR 8.03 billion ($2.21 billion) in the same period of 2015.
The company’s stock closed today’s trading at QAR 91.2 ($25.05).
