Dubai: Vodafone Qatar, an affiliate of Vodafone Group, reported a widening second-quarter loss on Thursday as its revenue fell.
The operator made a net loss of 113.6 million riyals (Dh114.6 million, $31.20 million) in the three months to September 30, Reuters calculated based on its half-year financial statement.
That compares with a loss of 53.5 million riyals in the prior-year period, according to Reuters calculations. Vodafone Qatar’s financial year starts on April 1.
Two analysts had forecast Vodafone Qatar would make a quarterly loss of between 90.0 million riyals and 102.2 million riyals.
Vodafone Qatar has yet to make a quarterly net profit since ending state-controlled Ooredoo’s domestic monopoly in 2009.
Vodafone Qatar’s losses had been consistently diminishing, but that trajectory has faltered of late. Its losses have now widened for four straight quarters, year-on-year; a trend chief executive Kyle Whitehill told Reuters in September was due to a “significant slowdown in the market in terms of growth”.
Vodafone Qatar generated revenue of 528.1 million riyals in its second quarter, versus 559.2 million riyals in the prior-year period, according to Reuters calculations.
