Ooredoo Oman has reported a 27.1% decline in its net profit for Q1 of 2020, ending March 31. The company’s net profit for the period came at $16m as compared to $22m in the same period of last year.
Ooredoo’s total revenue decreased by 1.7% to $175m during January – March period of this year from $178m in the corresponding period of 2019. The revenue reduction was partially offset by fixed-line revenues, which continued to deliver double-digit growth for the first quarter of the year.
Ooredoo’s total subscribers base in Oman also fell by 6.7% as the number of mobile and fixed customers dropped to 2.844m as of March 31, 2020.