(MENAFN) Ooredoo Kuwait, the third-best telecom operator by subscribers in the country, recorded a net profit of USD7.3 million in the first quarter of the year, marking a grand fall by 89 percent compared to 2014, Arabian Business reported.
The company's profit has been hit by a blow down from the USD65.41 million recorded in the corresponding period of 2014; Ooredoo put the blame on foreign-exchange losses from its operations in Tunisia and Algeria.
Ooredoo's profit has been on a continual slide downward for 10 out of the past 13 quarters; results that are extremely detrimental for its position, competing against Zain and Saudi Telecom affiliate Viva.
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