127 million riyals net profit of Vodafone

Vodafone Qatar announced its consolidated financial results for the nine-month period ending on September 30, 2020, with a noticeable improvement in all key indicators, the most prominent results for the nine-month period ending on September 30, 2020 compared to the same period in 2019: Services revenues increased by 4% to reach 1.5 One billion Qatari riyals, an increase in total revenues by 4% to reach 1.6 billion Qatari riyals, and an increase in profits before accounting for financing costs, taxes, depreciation and amortization by 12% to reach 591 million Qatari riyals, in addition to an increase in net profit by 17% to reach 127 million riyals. Qatari, the mobile phone customer base reached 1.7 million.

Financial Summary

The net profit for the nine months ending September 30, 2020, amounted to 127 million Qatari riyals, which led to strong growth of 17% compared to the same period last year, and these results are mainly due to the high level of profits before accounting for financing costs, taxes, depreciation and amortization. The net profit during the third quarter of 2020 increased by 51% on an annual basis to reach 46 million Qatari riyals. In addition, the total revenues recorded an improvement of 4% during the period on an annual basis to reach 1.6 billion Qatari riyals accompanied by a growth in services revenues of 4%. %, Driven by the high demand for fixed broadband services “GigaHome” and the continuous growth in the customer base of the monthly subscription service.

Profits before accounting for finance, taxes, depreciation and amortization costs increased by 12% to reach QR 591 million, supported by higher service revenues and ongoing cost improvement initiatives. As a result, the EBITDA margin improved by 2.7 percentage points year on year to 36.7%, the highest ever in the company’s history.