Omani Qatari Telecommunications Company (Ooredoo) said that the unaudited financial statements showed 9.8% increase in profits during the fiscal year 2015 as compared to 2014, according to a bourse filing.

Ooredoo Oman reported OMR 41.6 million ($107.68 million) earnings in FY15, compared to OMR 37.9 million ($98.1 million) in FY14.

The company’s revenues grew 11.2% to OMR 252.1 million in FY15 from OMR 226.7 million in FY14.

“Net profit for the year 2015 was also impacted by OMR 4.1 million due to provision for swapped out assets as part of network modernization,” added the filing.
Ooredoo Oman is being traded at OMR 0.62.