Doha: Vodafone Qatar yesterday announced its consolidated financial results for the nine months to 30 September 2022. This reflects our success in maintaining our growth trajectory.

The company reported net income for the quarter of 334 million, reflecting strong growth of 66.9% compared to the same quarter last year of 134 million, driven primarily by higher EBITDA.

Net income increased 78% year-over-year in the third quarter of 2022 to reach 118 million quarters.

Total revenue for the period increased 24.7% year-on-year to 2.2 billion quarter, driven by continued growth in postpaid, prepaid, fixed broadband services (Gigahome) and project revenue.

Service revenue increased by 14.2% year-on-year to QR 1.9 billion. His EBITDA for the period increased by 22% year-on-year to QR 879 million, driven by service revenue growth and ongoing cost optimization programs.

The EBITDA margin decreased by 0.9 ppt year-on-year to reach 40.4% due to the mix of relatively low-margin project earnings.

However, the underlying EBITDA margin excluding equipment and projects increased by 1.9 ppt year-on-year to reach 45.3%.

Vodafone Qatar now serves over 2 million mobile customers, up 14.9% year-on-year.

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