(MENAFN) Ooredoo Kuwait, the country's No.3 telecom operator by subscribers, announced that its net profit fell by nearly half during the July-September period, Gulf Business reported.
The telecommunications company, a subsidiary of Qatar's Ooredoo, recorded USD27.3 million in net profit during the year's third quarter, declining from USD52.81 million which was recorded during the same period of 2013, while third-quarter revenue reached USD642.08 million, an increase compared to USD621.37 million registered during the corresponding period last year.
Ooredoo Kuwait, which domestically competes with Zain and Viva, an affiliate of Saudi Telecom Co, has slipped to third in terms of mobile subscribers, which resulted in the company's decline in net profit.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.