Omantel reports 10.3 per cent rise in Q4 profit

OmantelOman Telecommunications Co (Omantel) reported a 10.3 per cent rise in Q4 net profit as the operator's subscriber base grew.

The telecom company made a net profit of US$78.2mn in the quarter, compared with a profit of US$70.8mn in the same period a year ago, the company said in an statement.

Subscribers swell

Omantel's total subscribers rose 6 per cent to 3.53m in 2011, including those from Pakistan subsidiary Worldcall Telecommunications.

Domestic mobile subscribers, including those from mobile virtual network operators (MVNOs) hosted on Omantel's network, totalled 2.8mn at the end of 2011, giving it a market share of 58 per cent, it said.

2011 revenues

The firm's 2011 net profit was US$293.2mn, up 2.3 per cent from 2010.

Omantel, in which the Omani government owns 70 per cent, said quarterly revenue was US$310.3mn, up from US$261.8mn a year earlier.

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