Omantel Group reports 28.7% rise in Q3 net profit

Domestic operations revenues grew 8.2%

Muscat, 14 November 2023: Oman Telecommunications Company Group (MSX: OTEL) reported significant growth for the nine months ended September 2023, net profit increasing 28.7% from RO 195 Mn to RO 251 Mn at the end of September 2023. Group revenue grew 10.6% from RO 1981.5 Mn to RO 2192.5 Mn at the end of September 2023.

Omantel’s domestic operations performance

At the level of domestic operations, Omantel’s revenues grew by 8.2% to reach R.O 458.1 million, compared to the corresponding period.  Revenue growth is mainly coming from wholesale transit voice revenue which increased by RO 17 Mn and device revenue which increased by RO 10.9 Mn.  Growth in retail revenue is contributed by Mobile Postpaid revenue which increased by 11.4% and Fixed Broadband revenues which increased by 4.4%.

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