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Posted On: 6 December 2013 05:42 pm
Updated On: 12 November 2020 01:50 pm

Vodafone Qatar posts smaller Q2 loss

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Vodafone Qatar, an affiliate of Vodafone Group, made a smaller second-quarter loss in line with analysts' estimates as its mobile subscriber base increased by about a quarter and customers spent more on phone services. Vodafone, which ended Ooredoo's domestic monopoly in 2009, made a net loss of QAR75m ($20.60m) in the three months to September 30, according to Reuters calculation. That compares with a loss of QAR121.7m in the year-earlier period. The firm's financial year starts on April 1. Analysts polled by Reuters on average forecast Vodafone Qatar would make a quarterly loss of QAR75.8m. Quarterly revenue was QAR465.3m, up from QAR345.4m a year ago. Vodafone Qatar - 23 percent owned by parent Vodafone - had 1.19 million mobile customers as of September 30, up 27 percent from a year earlier, while average revenue per user - a key industry metric increased 5 percent to 124 riyals.