Nawras, Oman's No.2 telecoms operator, posted a 13.4 percent drop in fourth-quarter profit, a fourth consecutive quarterly decline, as falling revenue from texts and on-network calls weighed on the bottom line.
Internet-based services such as instant messaging and Voice-Over-IP phone (VoIP) calls have hurt margins of Gulf telecoms companies as the region's large expatriate population has increasingly shifted away from conventional calls and texts to contact home.
Nawras, majority-owned by Qatar Telecom (Qtel), on Sunday reported a net profit of 10.3 million rials ($26.75 million) for the three months to Dec. 31, down from 11.9 million in the year-earlier quarter.
UPDATE 1-Oman telco Nawras extends profit slump for 4th quarter | Reuters
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