Vodafone Qatar posts 63% rise in first quarter profit

Vodafone Qatar maintained its growth trajectory in Q1 2022, reporting a net profit of QR107 million for the three months ended March 31, 2022, representing an increase of 63% year-on-year.
Total revenue increased by 25 percent year-on-year to reach QR731 million due to growth in the company’s postpaid, prepaid, fixed broadband services (GigaHome), managed services, equipment and other related services. Service revenue grew by 14.5 percent to reach QR611 million.
EBITDA for the period increased by 28 percent year-on-year to reach QR301 million led by higher service revenue and the continued effectiveness in implementing the company’s cost optimisation programme.
Consequently, EBITDA margin rose by 1.2 percentage points to 41.2 percent. Vodafone Qatar is now serving 2 million mobile customers, representing a growth of 19 percent comparing to last year.