Vodafone Qatar announced its financial results in Q1 2021 which unveiled the company’s highest quarterly net profit of QR 66 million, after recording a 38% year-on-year growth.
Maintaining its growth trajectory within the first quarter, Vodafone Qatar’s total revenue significantly increased by 8.3%, reaching QR 585 million. This is driven by continued growth in the company’s postpaid revenue and fixed broadband services in addition to higher handset sales.
Moreover, its service revenue grew by 5.1% to reach QR 534 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the period also increased by 17% year-on-year achieving QR 234 million. This is led by the company’s higher service revenue and the continued effectiveness in implementing the cost optimization program. Consequently, the EBITDA margin rose by 3 percentage points to 40%.
Vodafone Qatar provides a comprehensive range of services including voice, messaging, data, fixed communications, IoT, and ICT managed services to more than 1.7 million customers.