Qtel Announces QR711.4 million Profit in Q1, 2012

Doha, April 29 (QNA) - Qatar Telecom (Qtel) group's net profit decreased 12.2 per cent to QR711.4 million ($195.37 million) in Q1, compared to QR810.8 million during the same period last year, mainly due to foreign exchange losses in its Indonesian unit, the group said. The group delivered good revenue growth in the first quarter, with the same increasing by 7.6 percent to QR8.0 billion (Q1 2011: QR 7.5 billion), a statement said. As of March 31, 2012 the group’s consolidated customer base stood at 84.4 million (Q1 2011: 75.6 million), a 11.7 percent growth. EBITDA for the same period increased 8.0 percent to QR3.8 billion (Q1 2011: QR3.6 billion). EBITDA margin remained robust throughout the period at 48 percent (Q1 2011: 48 percent), it said. Commenting on the results, HE Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Qtel Q1 profit down 12pc to $195 million , said: "We are pleased to have started a new year in a strong position, clear in our ambition and confident in the direction of our group. We have outlined a bold new strategy, and our operations are vigorously delivering upon it. "In the first months of 2012, we have maintained our reputation for sustainable, profitable growth, delivering a 7.6 percent increase in revenue and an 8.0 percent increase in EBITDA. This positive financial performance continues to be driven by the strength of our in-country operations, the commitment of our operational teams, and the clarity of vision we all share as part of one Qtel Group family." Dr Nasser Marafih, chief executive officer, said: "This is an excellent start to the year and our strong first quarter performance confirms our view that we have a significant opportunity ahead of us as a group. Our revised drive strategy continues to roll out across our operations, ensuring that we remain closely focused on the three key factors that will maintain our growth momentum for the future. "By focusing on the customer experience, strengthening the foundations of our business, and investing in growth, I am confident that we not only understand where future profitable growth for our Group can come from, but that we also hold a leadership position in the data, Broadband and connectivity arenas that will be key generators of profits in future years," he said. Qtel - Qatar: The company maintained its customer base in Qatar to end the quarter with 2.4 million customers (Q1 2011: 2.4 million). Revenue increased by 6.4 percent year-on-year to stand at QR1.5 billion (Q1 2011: 1.4 billion). EBITDA performance showed an increase of 2.8 percent year-on-year to QR798.0 million (Q1 2011: QR 776.2 million). (QNA)