Qtel reports 74% surge in Q3 income
Complex Made Simple

Qtel reports 74% surge in Q3 income

Qtel reports 74% surge in Q3 income

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.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved