(MENAFN - The Peninsula) Qatar Telecom (Qtel) yesterday announced the financial results for the first quarter (Q1) of 2012 and reported about 8 percent increase in its revenue to QR8bn. The net profits attributable to Qtel shareholders stood at QR711m, down 12.2 percent as compared to the corresponding period last year.
The earnings per share (EPS) in Q1 2012 stood at QR3.11 against QR3.54 for the same period in 2011. Earnings per share have been adjusted as a result of the issuance of 20 percent bonus shares in Q1 2011 and 30 percent bonus shares in Q1 2012.
The company registered a revenue and EBITDA growth of approximately 8 percent as a result of strong operational performance. However, the net profits during the period was adversely impacted by movement in the Indonesian currency (Rupiah) compared to last year. Excluding this impact, the operational growth is in line with EBITDA growth.
The telecom giant has reported a post-period approval of 40 percent rights issue at a price of QR75 per share after distribution of bonus shares, at 2011 Annual General Assembly.
Commenting on the results, Sheikh Abdullah bin Mohammed bin Saud Al Thani, Chairman, Qtel Group, said: "We are pleased to have started a new year in a strong position, clear in our ambition and confident in the direction of our Group. We have outlined a bold new strategy, and our operations are vigorously delivering upon it."
Dr Nasser Marafih, CEO, Qtel Group, said: "This is an excellent start to the year and our strong first quarter performance confirms our view that we have a significant opportunity ahead of us as a Group."
Meanwhile, the group has also reported a sustained performance from Iraq, Algeria and Tunisia. It expects that the commercial launch of fibre project in Qatar will help maintain its leadership position and deliver superior customer experience.
Indonesian subsidiary Indosat agreed to the sale and leaseback of approximately 25 percent of its tower portfolio, for a total potential consideration of 519m.
In the first quarter ended March 31, 2012, according to the Group, it has delivered a solid financial performance. Positions in key markets remained robust, supported by an ongoing focus on service excellence and the continued roll-out of innovative services across the entire footprint.
As of March 31, 2012, the Group's consolidated customer base stood at 84.4m (Q1 2011: 75.6m), representing growth in customer numbers of 11.7 percent.
EBITDA for the same period increased 8 percent to QR3.8bn (Q1 2011: QR3.6bn). EBITDA margin remained robust throughout the period at 48 percent (Q1 2011: 48 percent). Its performance showed an increase of 2.8 percent year-on-year to QR798m (Q1 2011: QR 776.2m).