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Nawras Q3 profit falls 47%
- Oman: Monday, October 22 - 2012 at 04:25
Oman's second telecoms operator, Nawras has posted a 47% drop in third-quarter profit, blaming the slump on falling text revenue and higher network maintenance costs, Reuters has reported. Nawras, majority-owned by Qtel, made a net profit of QR7.2m ($18.7m)in the three months to September 30, down from QR13.48m in the year-earlier period. Third-quarter revenue was QR46.9m, compared with QR49.2m a year ago. "The decline in revenue is primarily driven by a reduction in SMS (text) revenue, partially offset by growth in both mobile and fixed data as well as international voice revenues," Nawras said.
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