Omantel posts 10% growth in 9M revenue

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, reported revenue of OMR1.98 billion (USD5.1 billion) for the first nine months of 2022, an increase of 9.9% from OMR1.80 billion in the year-ago period, as domestic turnover rose 6.7% to OMR423.4 million. The growth in domestic revenue was primarily driven by an increase in wholesale transit revenue. Group EBITDA was stable at OMR738.4 million in 9M 2022, while group net profit jumped 16.6% from OMR168.1 million in the first nine months of 2021 to OMR195.1 million a year later. Domestic net profit fell by 1.8% year-on-year to OMR53.7 million, however.