Ooredoo posts KD 23.5 mln in net profits for 9 months

KUWAIT, National Mobile Telecommunications Company (Ooredoo) on Wednesday announced net profits of KD 23.5 million (USD 77 million) for the first nine months of 2019.

Earnings per share hit 47 fils and consolidated profits amounted to KD 470 million (USD 1.5 billion) for the first nine months of 2019, compared to KD 502 million (USD 1.6 billion) in the same period last year, Ooredoo said in a press statement.

The customer base went up by 1 percent to 26.8 million customers in the reported period, compared to 26.6 million customers in the same period of 2018, according to the statement.

Board Chairman Saud Al-Thani was quoted by the statement as saying that EBITDA rose by 8 percent to KD 147.4 million (USD 486 million) in the first nine months of 2019.

Ooredoo in Kuwait, formerly known as Wataniya Telecom, is a member of Ooredoo Group. Commercially launched in December 1999, the company provides mobile, broadband internet and corporate managed services tailored to the needs of customers and businesses.

Source: Kuwait News Agency