Omantel Group revenue nears RO2 billion for 9M 2022

OMAN DAILY OBSERVER / 16 NOVEMBER 2022

Omantel Group revenue nears RO2 billion for 9M 2022

CONRAD PRABHU

MUSCAT: Majority Omani government-owned telecom services provider Omantel recorded revenues totaling RO 1.981 billion across the group for the nine months ended September 30, 2022, up from RO 1.802 billion for the corresponding period of 2021.

The lion’s share came from Omantel subsidiary Zain Group with a contribution of RO 1.565 billion, the publicly traded telecom company said in its 9M report for fiscal 2022.

Revenues from Omantel’s domestic operations totaled RO 423.4 million this year, up from RO 396.9 million for the corresponding period of 2021. Contributing to this increase was the growth in transit voice revenue, which rose by RO 21.1 million YoY, the company said.

Net profit after tax for the group climbed 16.1 per cent to RO 195.1 million, up from RO 168.1 million in 2021. After adjusting for minority interest, the net profit for the period was RO 49.8 million compared to RO 48.9 Mn in 2021, the Chairman stated in his report. Total operating expenses incurred by the group rose 9.8 per cent to RO 1.655 billion, up from RO 1.507 billion for the corresponding period of 2021.

On the domestic front, net profit dipped to RO 53.7 million compared to RO 54.7 million in the previous period. “Domestic net profit levels were sustained at similar level YoY on account of increase in Postpaid Mobile revenue (11.1 per cent) and Fixed Broad band revenue (1.7 per cent), cost optimization measures, reduction in impairment provision against receivables (contributed by healthy collections) and depreciation inspite of a significant increase in competition in Fixed and Mobile retail markets,” the telecom operator stated.

Omantel’s combined domestic subscriber base as of September 2022 (including mobile and fixed businesses) climbed to 3.207 million (excluding Mobile Resellers) compared to 3.189 million last year. With mobile resellers, the figure reached 3.728 million this year, compared to 3.736 million a year earlier.

Omantel’s mobile market share (including Mobile Resellers) was pegged 47.5 per cent with a revenue share of 58.1 per cent. The Fixed Telephone (post & pre-paid) market share was 71 per cent with a revenue market share of 82.2 per cent.