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Vodafone Qatar Q3 loss widens yr-yr to $19.8 mln
January 26, 2016 / 4:51 AM / 2 years ago

Vodafone Qatar Q3 loss widens yr-yr to $19.8 mln

DUBAI, Jan 26 (Reuters) - Vodafone Qatar, an affiliate of Vodafone Group, reported on Tuesday a 72.2 million riyal ($19.8 million) net loss in the third quarter, which is five percent wider than the same year-ago period, Reuters calculations showed.

The loss for the three months ended Dec. 31, however, was narrower than the 95 million riyal loss forecast by an analyst at Beltone Financial.

In 2014, Vodafone Qatar posted a 68.87 million riyals in the third quarter.

Vodafone Qatar has yet to make a quarterly net profit since ending state-controlled telecom operator Ooredoo’s domestic monopoly in 2009.

Its losses have deepened in the last four quarters, a trend former chief executive Kyle Whitehill told Reuters was due to a “significant slowdown in the market in terms of growth”.

Whitehill left the company in December.

Vodafone Qatar’s net loss in the nine months to Dec. 31 was 285.7 million riyals, it said in a bourse statement, wider than the 149.8 million riyals loss in the same year-ago period.

$1 = 3.6412 Qatar riyals Reporting by David French; Editing by Miral Fahmy

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