Oman Telecommunications Company (Omantel) has announced it generated total group revenue of OMR109.9 million (USD284 million) in the quarter ended 30 September 2011, an increase of 12.8% compared to the OMR97.4 million reported in the year-ago period, while turnover for the first nine months of 2011 rose 5.5% year-on-year to OMR333.2 million. The company said that operating expenses in 9M 2011 increased 9.0% year-on-year to OMR244.2 million, mainly due to costs related to the sale of capacity from the Europe India Gateway (EIG) submarine cable system, as well as a rise in depreciation costs due to continued expansion of the company’s 3.5G wireless network and its fixed line next generation network (NGN).
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OVETEL Omantel posts 25% rise in Q3 net profit
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