Mubasher: National Mobile Telecommunications Company (Ooredoo) posted net profits attributable to the owners valued at QAR 961 million in the first quarter (Q1) of 2023, an annual hike of 43% from QAR 671 million.

The firm generated revenues worth QAR 5.63 billion in January-March 2023, up 2 % year-on-year (YoY) from QAR 5.54 billion, according to consolidated financial results.

Earnings per share (EPS) increased to QAR 0.30 during the first three months (3M) of 2022 from QAR 0.21 in the year-ago period.

Meanwhile, the total assets amounted to QAR 57.26 billion in Q1-23, compared to QAR 61.89 billion as of 31 December 2022.

Sheikh Faisal bin Thani Al Thani, Chairman of Ooredoo, highlighted: “We are pleased to report that the recommendation by the board to distribute a cash dividend of QAR 0.43 per share has been approved by our shareholders during the [annual general meeting] AGM held on 7 March 2023."

Aziz Aluthman Fakhroo, Managing Director of Ooredoo, said: “Our [earnings before interest, taxes, depreciation, and amortisation] EBITDA margin improved by one percentage point to reach 43% which continues to demonstrate the solid operational execution as well as the dedication and hard work of all our employees, amidst many challenges.”

“In Q1-23, Qatar, our primary market, has once again demonstrated its excellence as a leading telecommunications and ICT provider. Ooredoo Qatar achieved a 3% increase in revenue, reaching QAR 1.90 billion,” Fakhroo added.

He underlined: “Ooredoo Oman has delivered a 2% increase in Revenue in Q1-23 backed by postpaid services, wholesale revenues, and devices.”

It is worth noting that Ooredoo is cross-listed on Abu Dhabi Securities Exchange (ADX), Qatar Stock Exchange (QSE), and Boursa Kuwait.