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Omantel Group H1 net profit drops 21%

2020-07-21 09:46:00| Telecompaper Headlines

(Telecompaper) Omantel Group said net profit decreased by 20.5 percent to OMR 100.5 million in the first six months to 30 June from OMR 126.5 million in H1 2019. This decline was mainly driven by a 27 per cent year-on-year (YoY) drop in group net profit for the second quarter of 2020 because of the effects of Covid-19, predominantly on the core mobile business. First-half group consolidated revenues slipped to OMR 1.24 billion from OMR 1.26 billion in 2019. 

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