Doha: Vodafone Qatar yesterday announced its consolidated financial results for the nine months ended September 30, 2022 which reflect the Company’s success in maintaining its growth trajectory.
The Company reported a net profit of QR334m, reflecting strong growth of 66.9 percent compared to QR134m during the same period last year mainly driven by higher EBITDA.
Net Profit for the third quarter of 2022 increased by 78 percent year-on-year to reach QR118m.
Total revenue for the period increased by 24.7 percent year-on-year to QR2.2bn led by continued growth in the Company’s postpaid, prepaid, fixed broadband services (Gigahome) and projects revenue.
Service revenue grew by 14.2 percent year-on-year to QR1.9bn. EBITDA for the period increased year-on-year by 22 percent to QR879m, led by higher service revenue and the continued cost optimisation programme.
EBITDA margin decreased by 0.9 ppts year-on-year to reach 40.4 percent due to mix of comparatively low margin projects revenue.
However, Underlying EBITDA margin excluding equipment and projects, increased by 1.9 ppts year-on-year to reach 45.3 percent.
Vodafone Qatar is now serving more than 2 million mobile customers representing an increase of 14.9 percent year-on-year.
