Oman Telecommunications Company S.A.O.G (Omantel. MSM: OTEL), revealed the Company’s preliminary unaudited financial results for the 1st Quarter ended on 31st March 2016. Group revenue recorded a growth of 4.7% to R.O 135.5 million compared with R.O 129.4 million in the corresponding period of 2015. Cost of Sales increased by 8.4%, while Operating Expenses recorded a decrease of 3.5% compared to the corresponding period.
The Group net profit is RO 34.8 Mn compared to R.O 34.6 million in 2015, an increase of 0.6%. The net profit is propelled by strong domestic performance, which witnessed an impressive revenue growth of 5% contributed mainly by revenues from Fixed and Mobile broadband services and submarine capacity sales.
Source: Omantel