Muscat – Group net profit of Oman Telecommunications Company (Omantel) surged 52.2% to RO107.9mn in the first quarter of 2026, compared with RO70.9mn in the same period last year, the company announced on Wednesday.

Total revenue of Omantel Group increased by 6.1% to RO856.7mn in Q1 2026, up from RO807.4mn in the corresponding period of 2025, according to a filing to the Muscat Stock Exchange.

The company said the increase in group net profit was mainly driven by strong EBITDA performance and higher investment income from Zain Group.

Net profit attributable to shareholders of the company rose 22.9% to RO20.9mn in Q1 2026, compared with RO17mn in Q1 2025.

Domestic performance

Omantel’s domestic revenue for the three months ended March 31, 2026 increased to RO178mn from RO164.1mn in the same period a year earlier, representing year-on-year growth of 8.5%.

The company said the growth was mainly driven by higher telecom revenue of RO13mn across its core telecom portfolio. All key segments recorded growth, with fixed revenues rising 5.0%, device revenues 19.2%, wholesale revenues 14.5%, and mobile revenues 1.1%.

Omantel’s ICT and emerging technology revenues increased by RO1mn, reflecting continued progress in implementing its TechCo strategy and diversifying income sources.

Normalised net profit attributable to shareholders declined to RO30.6mn in Q1 2026, compared with RO33.5mn in the same period last year.

‘The decline [in normalised net profit] is primarily related to an increase in depreciation and amortisation, which is a direct result of our robust capital investments across both the 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.

Meanwhile, Omantel subsidiary Zain Group’s revenues for Q1 2026 rose to RO711.1mn, compared with RO671.4mn in the corresponding period of 2025. Net profit attributable to shareholders of Zain Group increased to RO99.6mn in Q1 2026, from RO66.3mn a year earlier.