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Ooredoo (formerly Qtel) reports higher profit, shares dive
- Qatar: Monday, March 04 - 2013 at 14:49
On the first day on the new trading floor in Dana Tower, Doha, the Qatar Exchange 20 Index slipped 0.17% to 8,513.93 points. Ooredoo, formerly known as Qatar Telecom, dived 3.03% to QR112. Earlier in the day, Ooredoo said its net income in 2012 surged to QR2.9bn, up from QR2.6bn. Earnings per share, however, fell to QR9.88 from QR9.90 in 2011. Ooredoo reported healthy growth in the home market thanks to its broadband strategy as well as in its foreign subsidiaries in Iraq, Algeria and Indonesia. The growth was "supported by a stable performance by Nawras in Oman," said Ooredoo.
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Gérard Al-Fil, Financial JournalistMonday, March 04 - 2013 at 14:49 UAE local time (GMT+4)
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