Omantel posts decline for Q1 2013

Middle East operator Oman Telecommunications (Omantel) has posted a 2.5% drop in net profit for Q1 2013.

The operator’s net profit fell despite its revenue increasing, citing network upgrades, higher employee costs and increased costs on connecting calls to Pakistan as reasons for the drop.

Omantel’s net profit for 2013 Q1 dropped from $77.7 million to $75.6 million year-on-year but revenue increased from $288.5 million in 2012 to $297.4 million in 2013 Q1.

Operating costs increased 5.4% to $217.9 million in Q1 2013 which contributed to the company’s 2.5% year-on-year decline in profits.

The operator also saw its domestic subscriber base rise 9.7% to 2.96 million while Ooredoo’s Oman arm, Nawras, has seen declining profits in five consecutive quarters.

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