- Operator made internet lack of QAR64 million within the three months to September 30
- Firm has not but made a quarterly internet revenue since 2009
- Regardless of this, its publish-pay buyer base jumped 27.9 per cent yr on yr
Vodafone Qatar reported a narrowing second-quarter loss on Tuesday, halting a run of disappointing earnings performances because the affiliate of Vodafone Group reduce low-incomes providers.
The operator made a internet lack of QAR64 million ($17.6m) within the three months to September 30, based on a bourse submitting.
That compares with a lack of 113.6m riyals within the prior-yr interval and the forecast of a QAR94m loss from Arqaam Capital.
No good points but
Vodafone Qatar, which makes use of a monetary yr beginning on April 1, has but to make a quarterly internet revenue since ending state-managed Ooredoo’s home monopoly in 2009.
The agency’s losses had widened within the six quarters to March 31, 2016, as Ooredoo slashed costs and fought onerous to bolster its income share.
Vodafone Qatar arrested this development with a flat internet loss within the first quarter. The operator confirmed in July that it had decreased headcount by ten per cent in Might, with some job cuts everlasting and different positions to be reassigned to roles aimed toward boosting cellular income streams.
The corporate has “ceased actions and promoting merchandise which generated little or no margin”, Chief Government Ian Grey stated in a press release.
Together with a discount in regulated telecom charges on which it didn’t elaborate, this contributed to a lower of 5.four % in quarterly income to QAR499m, whereas the operator’s buyer base shrank 1.9 % yr-on-yr to face at 1.46m, because it disconnected almost eighty five,000 strains.
Regardless of this, its publish-pay buyer base – historically individuals with larger incomes – jumped 27.9 % yr on yr.
The corporate made a half-yr internet lack of 163.5m riyals in contrast with a 213.5 riyals loss within the yr-in the past interval.
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Supply: Press Launch