Q-Tel on the up and up, and it was all thanks to Qatarnet

Qatar Telecom (Q-Tel) has reported a 14.2% rise in first quarter revenues on the back of a strong performance by its wireless arm Qatarnet. Turnover for the three months ending 31 March 2005 was QAR645.4 million (USD177.4 million), up from QAR562.2 million twelve months earlier. Monopoly cellco Qatarnet was the primary driver of growth, reporting a 32.8% boost in its customer base to 531,956 at the end of the period; Q-Tel’s data services revenues were up 20.1% to QAR69.2 million. Operating profits remained relatively stable at QAR328.8 million, however, due to the start-up costs of the group’s fledgling Omani cellco Nawras Telecom, which ended March with 16,844 users.