Qtel net profit rises to QR2.9bn

Qatar Telecom (Qtel) has posted full-year net profits of QR2.9bn with the revenue of the Group soaring to a whopping QR27.2bn in 2010.

Qtel’s net profits totalled QR2.8bn in 2009. The group’s customer base soared to an incredible 74.1 million last year with operations in as many as 17 countries around the world.

The group proposes to distribute 50 percent cash dividend (QR5 per share) and 20 percent stock dividend (bonus shares at the rate of one share for every five shares held) to its shareholders for 2010.