Mubasher: The net profits attributable to the shareholders of National Mobile Telecommunications Company (Ooredoo) reached QAR 912.93 million in the first quarter (Q1) of 2024.

The generated net profits were lower by 5% year-on-year (YoY) than QAR 960.56 million, according to the income statements.

The cross-listed telecom group registered revenues amounting to QAR 5.86 billion in Q1-24, marking an annual growth of 4% from QAR 5.63 billion.

Basic and diluted earnings per share (EPS) retreated by 3% to QAR 0.29 as of 31 March 2024 from QAR 0.30 in the year-ago period.

The total assets hit QAR 56.83 billion in the first three months (3M) of 2024, down from QAR 58.20 billion at the end of December 2023.

Faisal bin Thani Al Thani, Chairman of Ooredoo, commented: “Ooredoo commenced the first quarter of 2024 on a strong note, delivering revenue of QAR 5.90 billion, up by 4% with an increase in normalised net profit of 26%.”

“This performance is supported by our commitment to excellence across our global footprint with the delivery of best-in-class connectivity and exceptional customer experience,” Al Thani noted.

Cash Dividends

The Chairman announced: “We are pleased to report that the recommendation by the board of directors to distribute a cash dividend of QAR 0.55 per share was approved by our shareholders during the AGM held on 6 March 2024.”

“Looking ahead, Ooredoo will continue to deliver lasting value for our stakeholders through operational efficiencies and key strategic initiatives,” he concluded. 

As of 31 December 2023, Ooredoo witnessed a 28% YoY hike in net profit attributable to the owners to QAR 3.01 billion, compared to QAR 2.36 billion.