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Omantel Group’s revenues grow by 9.7% to RO2.94bn in 2023

11 Mar 2024 Omantel Group’s revenues grow by 9.7% to RO2.94bn in 2023

Muscat – Omantel Group’s revenues posted a rise of 9.7% to RO2.94bn in 2023. The group’s net profits grew by 13.1% to RO315.5mn.

Omantel shareholders’ net profits stood at RO74.8mn, compared to RO91.3mn in 2022.

At the level of local operations, Omantel’s revenues grew by 7.3% to RO606.5mn, compared to RO565.5mn during the corresponding period in 2022.

However, the company’s net profit of local operations in 2023 went down by 26.1% to about RO63.3mn, compared to RO85.7mn in 2022.

The Omantel Board of Directors recommended distributing a cash dividend of 55bz per share for the year ended December 31, 2023, at the Company’s Annual General Meeting, scheduled for March 30, 2024.

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