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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Omantel Board approves financial results of first quarter 2017

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MUSCAT: Omantel Board of Directors approved the company’s financial results for the 1st Quarter ended on March 31, 2017. The company’s revenue reached RO 132.6 million, while the net profit reached RO 23.8 million compared to RO 34.8 in the same period of 2016. The decline in net profit is mainly attributed to royalty increase from 7 per cent to 12 per cent effective January 1, 2017. The company’s operating expenses witnessed an increase of  3.3 per cent from RO 61.7 million to RO 63.8 million as a result of the company’s continuous investments in modernising its networks.


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