Vodafone Qatar narrows Q3 loss
Doha, January 16, 2013
Vodafone Qatar, an affiliate of Vodafone Group, reported a narrowing third-quarter loss on Wednesday as its subscriber base rose by a quarter and revenue per user grew.
Vodafone, which ended Qatar Telecom's (Qtel) domestic monopoly in 2009, made a third-quarter net loss of QR87.1 million ($23.92 million) in the three months to December 31, according to Reuters calculations.
That compares with a loss of QR122.1 million in the year-earlier period. The operator's financial year starts on April 1.
Quarterly revenue was QR395.6 million, up from QR315.8 million a year ago.
Vodafone Qatar launched post-paid contract services in June, which the operator hopes will help woo subscribers from Qtel and improve margins. Customers on post-paid contracts are typically wealthier and spend more on telecoms as well as being less likely to switch operators.
Vodafone had 1 million mobile customers as of December 31, up 26 per cent from a year earlier.
Third-quarter average revenue per user (ARPU), a key metric for the telecom sector, was QR121, up 8.4 per cent year-on-year.
Vodafone, which owns 23 per cent of Vodafone Qatar, in November extended a contract to manage its Qatari affiliate until 2018.-Reuters