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Ooredoo reports 30% drop in nine months profit

31 Oct 2021 Ooredoo By OUR CORRESPONDENT

Muscat – Ooredoo Oman has reported a 30 per cent decline in its net profit for the nine months period ended September 30, 2021, mainly due to a decrease in prepaid mobile revenue.

The company’s net profit fell to RO10.5mn during the January–September period of this year compared to RO15mn reported in the corresponding period of 2020.

Ooredoo Oman’s revenue for the first nine months of 2021 decreased by 8.2 per cent to RO183.2mn compared with RO199.6mn in 2020. The decrease was due to lower mobile revenue, the company said in its report submitted to the Muscat Stock Exchange.

Ooredoo’s mobile prepaid customer base in Oman decreased by 2.8 per cent to 2,062,300 customers as of September 30, 2021 compared to 2,120,970 customers a year ago.

Mobile postpaid customer base sharply grew by 60.7 per cent to 551,690 customers as at the end of third quarter of this year compared to 343,212 customers a year ago.

Moreover, Ooredoo’s fixed service customer base increased by 1.8 per cent to 170,740 customers in 2021 compared to 167,773 in the same period of 2020.

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