Kuwait telecoms operator Wataniya on Wednesday reported a 90 percent drop in first-quarter net profit, with earnings from the prior-year period boosted by a one-off fair value gain.
The firm, majority-owned by Qatar Telecom (Qtel), increased its subscriber base by 8.7 percent to 18.1 million and new customers at its Algeria and Tunisia units helped offset declining home revenue. The two operations account for 85 percent of total subscribers.
Wataniya, which is also active in Maldives, the Palestinian Territories and Saudi Arabia, made a profit of 28.3 million dinars ($102.1 million) in the three months to March 31.
No comments:
Post a Comment