Q-Tel's net profit up 26 percent in 1Q 2004
Qatar Telecom (Q-Tel) posted a 26 percent net profit rise for the first quarter of 2004 reaching 339 million Qatari riyals ($93 million) compared to the same period in 2003.
First quarter revenue increased by QR 95 million to QR 565 million, a 20 percent increase over the corresponding period in 2003, reported a press release.
Q-Tel's wireless services continued to grow with its GSM subscriber base increasing by 40 percent to exceed 400,000 subscribers. This resulted in a 29 percent increase in wireless revenue compared with the same period last year.
Prepaid subscribers increased by 64 percent over the 12 month period between March 2003 to March 2004, a net increase of over 100,000 customers. Meanwhile postpaid subscribers increased to over 140,000 subscribers at the end of March 2004.
The company's Wireline services also experienced growth with first quarter revenue up 13 percent compared to the same period of the previous year to QR 216 million at the end of March 2004.
Qtel's dial-up Internet offering expanded its subscriber base to 27,693, a 40 percent increase over the 12 month period, while the ADSL barQ service proved a popular choice with customers with subscriber figures at the end of March 2004 exceeding the 4,000 mark. — (menareport.com)
© 2004 Mena Report (www.menareport.com)