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Posted On: 5 June 2013 10:11 am
Updated On: 12 November 2020 02:13 pm

Vodafone Qatar narrows quarterly losses

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Vodafone Qatar, an affiliate of Britain's Vodafone Group, has reported a smaller-than-expected fourth-quarter loss as its subscriber base rose by nearly a third and revenue increased. Vodafone, which ended Ooredoo's (Qatar Telecom) domestic monopoly in 2009, made a fourth-quarter net loss of QR73.9m in the three months to March 31, according to Reuters calculations. That compares with a loss of QR126.5m in the year-earlier period. The operator's financial year starts on April 1. Two analysts polled by Reuters forecast Vodafone Qatar would make a quarterly loss of between QR80-91m. Vodafone Qatar's full-year net loss was QR401m, smaller than the previous year's loss of QR486m. Quarterly revenue was QR435.6m, up from QR315.7m a year ago, while annual revenue rose 25 percent to QR1.53bn. This gave the company a 27.4 percent share of Qatar's mobile revenues, up from 24.5 percent a year earlier. Vodafone, which owns 23 percent of Vodafone Qatar, in November extended a contract to manage its Qatari affiliate until 2018. Vodafone had 1.08 million mobile customers as of March 31, up from 837,000 a year earlier. Full-year average revenue per user (ARPU), a key metric for the telecom sector, was 121 riyals, up 8 percent year-on-year.