Vodafone Qatar Q2 loss narrows
Doha, November 14, 2013
Vodafone Qatar, an affiliate of Vodafone Group, made a smaller second-quarter loss in line with analysts' estimates as its mobile subscriber base increased by about a quarter and customers spent more on phone services.
Vodafone, which ended Ooredoo's domestic monopoly in 2009, made a net loss of 75 million riyals ($20.60 million)in the three months to September 30, according to Reuters calculation. That compares with a loss of 121.7 million riyals in the year-earlier period. The firm's financial year starts on April 1.
Analysts polled by Reuters on average forecast Vodafone Qatar would make a quarterly loss of 75.8 million riyals.
Quarterly revenue was 465.3 million riyals, up from 345.4 million riyals a year ago.
Vodafone Qatar - 23 per cent owned by parent Vodafone - had 1.19 million mobile customers as of September 30, up 27 percent from a year earlier, while average revenue per user - a key industry metric increased 5 percent to 124 riyals. - Reuters