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Omantel posts lower Q3 profits

Omantel posts lower Q3 profits
One of Omantel's branches (Photo Credit: Company's Website)
Omantel
OTEL
-2.52% 1.04 -0.03

Mubasher: Oman Telecommunications said Thursday that its profits for the third quarter of 2016 declined 3.7% year-on-year to OMR 288.3 million ($73.25 million) from OMR 29.4 million ($76.09 million), according to a bourse filing.

Over the first nine months, the company earned OMR 95.1 million, higher 7% year-on-year from OMR 90.7 million.

The first nine-month revenues increased 4.3% to OMR 399.8 million, compared with OMR 383.3 million profits for the year-ago period.