Oman Telecommunications Co (Omantel) on Thursday reported a 12.9 percent rise in first-quarter net profit, in-line with analysts' forecasts, as the former monopoly reduced expenses to off-set flat revenue growth.
Omantel, majority-owned by the government, made a net profit of 29.1 million rials ($75.58 million) in the three months to March 31, up from 25.8 million rials in the year-earlier period, it said in a bourse statement.
Analysts polled by Reuters on average forecast Omantel would make a quarterly profit of 29.2 million rials.
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