Muscat – Oman Telecommunications Company (Omantel) on Tuesday reported a 73.5% increase in group net profit for the first half of 2026, reaching RO292.8mn compared with RO168.8mn in the corresponding period of 2025.

The sharp increase was primarily driven by positive EBITDA performance and higher investment income from Zain Group, Omantel said in its financial report submitted to the Muscat Stock Exchange.

The company noted that the group’s net profit for the first half of 2026 included RO159mn in gains from strategic investments executed by Zain Ventures, which manages Zain Group’s investment portfolio.

Net profit attributable to Omantel shareholders rose 60.1% to RO58.6mn in the first half of 2026, compared with RO36.6mn in the same period last year.

Total revenue of Omantel Group increased 5.7% to RO1.705bn during January-June 2026, from RO1.614bn in the corresponding period of 2025.

Revenue generated by Omantel Group subsidiary Zain Group rose to RO1.417bn in the first half of 2026, compared with RO1.346bn a year earlier.

Following the announcement of the financial results, Omantel shares rose sharply on Tuesday, closing 3.6% higher on the Muscat Stock Exchange.

Domestic performance

Omantel’s domestic revenue grew 11.2% year-on-year to RO357.2mn in the first half of 2026, compared with RO321.3mn in the same period last year.

According to Omantel, the growth was primarily driven by a RO25.1mn increase in telco revenues across its core telecom portfolio.

All key segments recorded growth, with fixed revenues rising 8.3%, device revenues increasing 2%, wholesale revenues growing 17.3% and mobile revenues edging up 0.9%.

Revenue from ICT and emerging technologies increased by RO10.7mn, representing year-on-year growth of 63.8%. Omantel said the increase reflected continued progress in implementing its TechCo strategy and diversifying its income sources.

However, Omantel’s normalised net profit attributable to shareholders declined 9.5% to RO31.8mn in the first half of 2026, from RO35.1mn in the corresponding period of 2025.

The company attributed the decline in normalised net profit to lower EBITDA and higher depreciation and amortisation, which it said resulted directly from robust capital investments across both its core telecom business and emerging technologies.

‘These investments are strategic in nature and are aimed at supporting long-term growth, enhancing customer experience, strengthening operational resilience and driving sustainable value creation,’ Omantel said.