Mubasher: The unaudited financial statements of Ooredoo Company showed a decline of 44.4% in profits for the first quarter of 2017.
The profits stood at OMR 7 million ($18 million) in Q1-17, compared to OMR 12.6 million ($32.6 million) in Q1-16, according to the company’s financial statements.
The company attributed the decline in net profits to an increase in the royalty paid to the government from 7% to 12% and an increase in the income tax from 12% to 15%, the statement showed.
Revenues rose 2.6% reaching OMR 67.8 million in Q1-17, compared to OMR 66.1 million in the same period of the year before, due to an increase in fixed phones and mobile revenues.
The company’s customers rose 9.2% to 3.06 million customers by the end of March.
The company had previously reported an increase of 11.3% in profits reaching OMR 46.3 million in 2016, compared to OMR 41.6 million in 2015.
