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FinancialNews
30-07-18
Qatar's Ooredoo posts 60 percent profit decline in Q2
(MENAFN) Qatar's Ooredoo was announced to have registered a drop in profit by 60 percent during the second quarter this year, due to the tough situation seen in Algeria, Indonesia and Myanmar.
The Qatari-based telecommunications group was also unveiled to have hit USD55.8 million of net profit attributable to shareholders.
The company, following the result, has been struck with the second consecutive quarterly profit fall, disappointing Bahrain's projection of 431 million riyals in net profit.
The company was also uncovered to have recorded an 8 percent decline in its second quarter revenue, reaching 7.5 billion riyals.
MENAFN3007201800450000ID1097217234
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