OOREDOO

The condensed consolidated interim financial information for Ooredoo Q.P.S.C., based in Doha, Qatar, for the nine-month period ending on 30 September 2023 has been released.

Ooredoo Q.P.S.C. has reported its financial results for the nine-month period ending 30 September 2023. The company saw a 2% increase in revenue, reaching QAR 17.2 billion. EBITDA also increased by 4% to QAR 7.4 billion, with the EBITDA margin improving to 43%. Net profit reached QAR 2.5 billion, up by 19%, and free cash flow grew by 8% to QAR 5.7 billion. The company also reported a stable capital expenditure of QAR 1.6 billion and a customer base of 156.1 million, up by 1%. The group remains on track to achieve its FY23 guidance.

The consolidated financial statement of Ooredoo Q.P.S.C for the nine months ending 30th September 2023 shows a decrease in total assets by 7%, from QR 61,839 million in December 2022 to QR 57,219 million in September 2023. Total liabilities also decreased by 19%, from QR 33,683 million to QR 27,294 million. However, total shareholders' equity increased by 6% from QR 28,156 million to QR 29,925 million. The total revenue increased by 2% to QR 17,240 million, and the net operating profit increased by 8% to QR 4,012 million. The profit attributable to shareholders of the parent increased by 28% to QR 2,664 million, and earnings per share increased by 28% to 0.83 QR units.