Vodafone Qatar reports Q1 loss

The telecom operator has reported a net loss of 99.9m riyals in its first quarter

Tags: Vodafone Qatar
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Vodafone Qatar reports Q1 loss   Vodafone Qatar has revealed a first quarter loss, which was flat compared to Q1 2015, stated Reuters. (Getty Images.)
By  Aasha Bodhani Published  July 26, 2016

Vodafone Qatar has revealed a first quarter loss, which was flat compared to Q1 2015, stated Reuters.

In a statement released by the telecoms operator, it made a net loss of 99.6m riyals, which is roughly $27.4m in three months to 30 June, compared with a loss of 99.9m riyals in the year before.

The result was in line with the forecast of QNB Financial Services, which expected a net loss of 101.2m riyals, reported Reuters.

Vodafone Qatar's chief executive Ian Gray said the operator had reduced headcount by 10% in May, with some job cuts permanent and other positions to be reassigned to roles aimed at boosting mobile revenue streams. 

When the operator announced its full-year earning in May, it said in Q1, earnings saw a 2.6% increase in mobile customers to 1.458m, furthermore, in Q4 the mobile average revenue per user also increased by 2.1%, despite being 9% down in the same quarter last year.

Gray also revealed that while international voice revenue continued to decline, revenue from data usage was higher.

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