Omantel reports 2.5% drop in Q1 net profit
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Omantel reports 2.5% drop in Q1 net profit

Omantel reports 2.5% drop in Q1 net profit

Omantel has reported a 2.5% fall in first-quarter net profit to OR29.1m, compared with OR29.9m in the corresponding period of 2012, Muscat Daily has reported. The decline was mainly attributed to the expansion of both the 3.5G (2nd carrier) and 4G LTE networks along with the fixed NGN network which put pressure on operation, maintenance and depreciation expenses, increase in external administration expenses, amounting to OR6.6m, on account of increased international retail minutes as well as expenses related to staff costs, Omantel said. However, revenue during the quarter rose 3.1% to OR114.5m from OR111.1m last year, the firm said. Total operating expenses increased 5.4% to OR83.9m from OR79.6m.

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