Nawras posts 22% drop in net profit
- Oman: Monday, January 28 - 2013 at 06:04
Oman-based telecoms operator Nawras has said its full-year net profit for last year dropped 22.1% to OR37m, compared with OR47.5m a year ago, owing to lower Ebitda and higher depreciation partially offset by lower interest cost, Reuters has reported. The ebitda achieved in the fourth quarter was OR26.2m, compared with OR26.8m in the same period last year. Ebitda for 2012 was affected by lower revenue as well as increase in cost of sales due to increased international minutes, Nawras said. Full-year revenue also fell 1.7% to OR193.5m from OR196.9m in 2011, primarily due to a reduction in SMS and on net voice revenue, partially offset by growth in both mobile and fixed data revenues, the firm said.
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