Vodafone Qatar reports 61% jump in half-yearly net profit to QR216mn

Vodafone Qatar has reported its half-yearly net profit of QR216mn, representing an increase of 61.3% year-on-year (y-o-y), mainly driven by higher EBITDA. Net profit margin increased by 3.5 percentage points (pp) to 15.1%.Total revenue increased by 23.5% y-o-y to reach QR1.44bn, led by growth in the company’s postpaid, prepaid, fixed broadband services (GigaHome), IoT, managed services, and projects revenue. Service revenue grew by 14.1% to reach QR1.23bn.EBITDA for the period increased by 25.2% y-o-y to QR590mn led by higher service revenue and the continued effectiveness in implementing the company’s cost optimisation programme. EBITDA margin further expanded by 0.5pp to reach 41.1%. Vodafone Qatar is now serving more than 2mn mobile customers, representing an increase of 17.6% y-o-y.