MUSCAT: Oman Telecommunications Company Group (Omantel) announced its unaudited financial results for the period ended on September 30, 2024, recording a net profit of RO 187.5 million while revenues grew by 2.2 per cent to reach approximately RO 2.23 billion (including Zain Group).
Omantel achieved a revenue of RO 452.8 million during the period ended on September 30, 2024, while Earnings before Interest, Tax and Depreciation and Amortization “EBITDA” witnessed a slight increase, attributed to stable retail margins in addition to lower impairment provisions in Receivable.
The Domestic Net Profit for the nine months ended on September 30, 2024 stands at RO 54.7 million compared to RO 58.6 million in the previous period, a decrease of 6.7 per cent which is attributed to the company’s continued investments in Capex mainly in the area of network expansion to enhance the quality of service which resulted in an increase in depreciation and amortisation costs by 7.3 per cent compared to the same period of 2023.
Zain Group's revenues for the period ended on September 30, 2024 were $4.7 billion and consolidated net income was $442 million.
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