Omantel Q1 revenue rises 5%, net profit up 18%

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, has reported revenues of OMR120.2 million (USD311.3 million) for the first quarter of 2014, an increase of 5.0% from OMR114.5 million in the year-ago period. Net profit was OMR34.4 million for the first three months of 2014, up 18% from OMR29.1 million in 1Q13, while group operating expenses declined by 0.9% to OMR83.1 million from OMR83.9 million over the same period, which was mainly attributed to several cost optimisation initiatives carried out by the company. Total Omantel subscribers (including Pakistani subsidiary Worldcall Telecommunications) reached 4.042 million at the end of March 2014, an increase of 4.1% from 3.883 million a year earlier. The firm’s domestic subscriber base increased 5.3% year-on-year to 3.113 million (excluding mobile resellers), while Worldcall customers reached 929,000.