Vodafone Qatar (“Vodafone Qatar” or the “Company”) announced its consolidated financial results for the nine months ended 30 September 2023 with improvement across all key performance indicators.
For the nine months ended 30 September 2023, the company reported its net profit of QR392m, reflecting strong growth of 17.3% compared to the same period last year, mainly driven by higher EBITDA.
Total Revenue for the period increased by 5.6% year-on-year to QR2.3bn led by continued growth in the company’s managed services, Internet of Things (IoT), wholesale and fixed broadband services (Gigahome). Service Revenue grew by 10.1% year-on-year to QR2.05bn.
EBITDA for the period increased year-on-year by 8.2% to QR950m, led by higher service revenue and the continued effectiveness in implementing the Company’s cost optimization programme. EBITDA margin further expanded by 1 ppts year-on-year to reach 41.4% due to mix of higher service revenue margin.
Vodafone Qatar is now serving 2.1 million mobile customers representing an increase of 1.5% year-on-year.