Omantel 9M net profit down 37% on higher royalty fees

16 Oct 2017

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, has announced its preliminary unaudited financial results for the first nine months of 2017, reporting revenue of OMR406.8 million (USD1.0 billion), an increase of 3.0% from OMR394.8 million in the year-ago period. EBITDA totalled OMR201.7 million for the nine months ended 30 September 2017, down by 2.2% from OMR206.4 million in 9M16, while net profit dropped 37.0% year-on-year to OMR59.9 million. The fall in net profit was predominantly attributed to a rise in royalty rates; effective from 1 January 2017 the Omani government increased the fee payable by telecoms operators from 7% of gross annual revenues to 12%.

Oman,Oman Telecommunications Company (Omantel),

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share