Omantel posts 4.8% growth in net profit at OMR95m

Muscat: Majority state-owned Oman Telecommunications Company (Omantel) on Thursday said that the group’s profit for the first nine months of 2016 grew by 4.8 per cent to OMR95.1 million, from OMR90.7 million for the same period of last year.
The group’s revenue also rose by 4.3 per cent to OMR399.8 million for January-September period of 2016, from OMR383.3 million for the same period of 2015, according to preliminary results posted by the Sultanate’s largest telecom firm on MSM website.
Operating expenses also grew by 4.3 per cent to OMR269.9 million during the period under review, while earnings before interest, tax, depreciation and amortisation (Ebitda) showed a robust growth of 6.9 per cent to OMR204.6 million by end-September 2016, from OMR191.3 million for the same period of last year.
The financial results are unaudited and subject to review of the audit committee and approval of the board.