Oman Telecommunications Q4 Net Profit Falls 11 Percent

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Oman Telecommunications (Omantel) reported an 11 percent fall in fourth-quarter profit on Sunday, according to Reuters calculations, missing analysts’ estimates as it ended a run of five straight quarters of rising earnings.

The former monopoly made a net profit of 26.5 million rials ($68.8 million) in the three months to Dec. 31, down from 29.7 million rials in the year-earlier period, Reuters calculated based on Omantel’s financial statement.

Two analysts polled by Reuters forecast Omantel would make a fourth-quarter profit of 31.1 million rials and 31.3 million rials respectively. Original post at ET Telecom

Wahengbam Rorrkychand

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