Doha: Vodafone Qatar (“Vodafone Qatar” or the “Company”) maintained its growth trajectory in Q1 2023, reporting Net profit of QR133m for the three months ended March 31, 2023, representing an increase of 24.2 percent year-on-year according to its financial results for the three months ended March 31 announced yesterday.
Total revenue increased by 6.2 percent year-on-year to reach QR776m due to continued growth in the Company’s Postpaid, Fixed broadband services (GigaHome), Managed services, Internet of Things (IoT) and handsets. Service revenue grew by 12.3 percent to reach QR687m.
EBITDA for the period increased by 6.4 percent year-on-year to reach QR320m led by higher Service revenue and the continued effectiveness in implementing the Company’s cost optimisation programme. Consequently, EBITDA margin continued to expand to reach 41.3 percent. Vodafone Qatar is now serving 2.1 million mobile customers representing a growth of 4.1percent comparing to Q1 last year.
Vodafone Qatar provides a comprehensive range of services including voice, messaging, data, fixed communications, IoT and ICT managed services in the State of Qatar, for both consumers and businesses alike. The Company commenced commercial operations in 2009 and has more than 2 million mobile customers as of 31 March 2023. Its state-of-the-art network infrastructure is expanding to cover key locations in the country with fibre connectivity and 5G, along with an extensive digital ecosystem, which will contribute to Qatar’s continued growth and prosperity.
