Doha: Vodafone Qatar announced yesterday net profit of QR127m for the nine months ended September 30, 2020, reflecting strong growth of 17% from the same period last year mainly driven by higher EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).
Net Profit for the third quarter of 2020 increased by 51 percent year-on-year to reach QR46m.
Total revenue for the period improved by 4 percent year-on-year to QR1.6bn following service revenue growth of 4 percent driven by higher demand for the Company’s fixed broadband solutions (GigaHome) and continued growth in its Postpaid subscriber base.
EBITDA year-on-year increased by 12 percent to reach QR591m, supported by the higher service revenue and continued cost optimisation initiatives.
Consequently, EBITDA margin improved by 2.7 percentage points year-on-year to reach 36.7 percent, the highest ever in the Company’s history. Total mobile customers of the company stood at 1.7 million.
