Qtel's revenue and net profit up 18%

Qatar Telecom (Qtel) has posted second quarter net income of QAR673 million (USD185 million), up 18% on the back of positive subscribe growth at its subsidiaries abroad. Group revenue also rose 18% to QAR8 billion in the April-June 2011 quarter. Kuwaiti subsidiary Wataniya’s consolidated customer base increased 6.8% in the first half of the year, while Indonesian telco Indosat’s subscriber base increased 23.7% during the period. Qtel acquired a 40.8% stake in Indosat in 2008, which it subsequently increased to 65%.