Ooredoo Group, Qatar’s biggest telecom operator, saw a 20% increase in profits during the first half of 2023, thanks to strong revenue growth, free cash flow, increased customer base and a lower capacity expansion spend.

The group’s net profits for the first six months of the year touched QAR1,794,852,000, up from QAR1,497,971,000 during the same period last year.

Ooredoo’s Earnings per share (EPS) came to QAR0.56 as of June 30, 2023, against an EPS of QR0.47 for the same period in 2022.

Ooredoo Group Chairman HE Sheikh Faisal bin Thani Al Thani said they had made an outstanding performance, adding that it underscored their steadfast dedication to providing robust connectivity, exceptional customer experiences, and maximizing value for stakeholders.

“Our digital transformation strategy has played a pivotal role in driving our success, empowering us to effectively capitalize on market opportunities and position ourselves for future growth. Looking ahead, we remain committed to exploring strategic avenues that unlock significant capital and maximize value for our stakeholders, further solidifying our position as a leader in the industry,” he said.

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