Vodafone Qatar posts net loss of QR27.41m

Vodafone Qatar announced its financial results for the quarter that ended June 30, revealing a net loss of QR 27.41 million in comparison to a net loss of QR 84.87 million for the corresponding period in 2013.
Vodafone Qatar Chairman Sheikh Dr. Khalid bin Thani bin Adbullah Al-Thani said that the "revenue for the quarter grew by 27% year-on-year, driven by a combination of continued customer growth and strong ARPU performance which resulted in a healthy growth in EBITDA".
"This quarter also saw a significant milestone for the company with the launch of Vodafone 4G, Qatar newest 4G network that comes with the newest content proposition and best in-store experience. Over the next few months, we will be expanding our 4G network to cover more of Doha focusing on indoor coverage as well as outside Doha especially the camping areas," he added.
The company said in statement that, as of June 30, it has 1,354,000 mobile customers, 18% year on year growth. Quarterly earnings before interest, tax, depreciation and amortization (EBITDA) reached QR 159 million; an increase of 61% year-on-year. Distributable profit was QR 73 million for the quarter and net loss reduced to a loss of QR 27 million; an improvement of 68% over the same quarter last year. The loss per share is minus (0.03) QR compared with minus (0.1) QR for the same quarter last year.