Q-Tel’s revenues up 15 percent in first 9 months of 2002
Qatar Telecom (Q-Tel) recorded a 15 percent revenue increase in the first nine months of 2002 reaching 1.3 billion Qatari rials ($357 million). Underlying net profit increased by 13 percent but was lowered by a one-time employers' pension fund contribution of 42 million Qatari rials.
The revenue increase was attributed to a greater use of mobile phones driven by tariff reductions and improvements in customer service. Third quarter revenue rose by 13.5 percent reaching QR 435 million.
Growth was boosted by a 37 percent increase in GSM to QR 103 million over the nine months compared with the same period last year, and a 41 percent increase in GSM for the third quarter to QR 39 million. In particular, Q-Tel's Pre Paid GSM subscriber base increased by more than 70 percent to 105,451 subscribers compared with 61,786 in 2001.
The Post Paid service was also a significant factor in the increase with QR 75 million and QR 30 million arising from the Post Paid service for the nine-month period and the third quarter respectively. Internet has also seen a serious growth in subscriber figures up to 19,005 from 13,063 the previous year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)