Vodafone Qatar yesterday announced its financial results for the three months ended March 31, 2022 with improvement across all key indicators.
The Company maintained its growth trajectory in Q1 2022, reporting a net profit of QR107m for the three months ended March 31, 2022, representing an increase of 63 percent year-on-year.
Total revenue increased by 25 percent year-on-year to reach QR731m due to growth in the Company’s postpaid, prepaid, fixed broadband services (GigaHome), managed services, equipment and other related services. Service revenue grew by 14.5 percent to reach QR611m.
EBITDA for the period increased by 28 percent year-on-year to reach QR301m led by higher service revenue and the continued effectiveness in implementing the Company’s cost optimisation programme. Consequently, EBITDA margin rose by 1.2 percentage points to 41.2 percent.
Lastly, Vodafone Qatar is now serving 2 million mobile customers representing a growth of 19 percent compared to last
year.
