Qtel reports 74% surge in Q3 income
- Qatar: Monday, October 22 - 2012 at 04:24
Qtel has said its quarterly profit surged 74% after Qatar's former monopoly completed a sale and leaseback of towers in Indonesia and domestic revenue increased, Reuters has reported. The group, which operates in 16 countries across the Middle East, Africa and Asia, made a third-quarter net profit of QR1.07bn ($294m), on revenue up 6% to QR8.63bn.Last August, Qtel concluded a sale and leaseback agreement worth $406m with Tower Bersama Infrastructure (TBIG) in Indonesia, a deal that gave a one-off boost to profit, it said.
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