Ooredoo's Q1 earnings up 13.6%
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Ooredoo's Q1 earnings up 13.6%

Ooredoo's Q1 earnings up 13.6%

Qatar's Ooredoo has said its first-quarter net profit grew 13.6%, as increased revenue from Qatar, Iraq and Indonesia offset a sustained profit slump at its Kuwait and Oman units, Reuters has reported. The telecoms firm made a net profit of QR808m ($222m) in the three months to March 31, up from QR711m in the year-earlier period. Ooredoo's revenue reached QR8.44bn, compared with QR8.03bn a year ago. The company spent some $3.9bn in the past year increasing its stakes in some foreign units, taking majority control of Iraq's Asiacell, while it now owns 90% or more of Wataniya and Tunisia's Tunisiana.

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