Ooredoo’s 2023 profit reaches all-time high of $824m

Ooredoo’s 2023 profit reaches all-time high of $824m

Qatari telecom major Ooredoo reported an all-time high net profit of QAR3 billion ($824 million) in 2023, up 28 percent year on year thanks to solid performances in Iraq, Kuwait, Algeria and the Maldives. Revenue increased by two percent year on year to QAR23.2 billion, the company, which trades on the Qatar stock exchange, said […]Qatari telecom major Ooredoo reported an all-time high net profit of QAR3 billion ($824 million) in 2023, up 28 percent year on year thanks to solid performances in Iraq, Kuwait, Algeria and the Maldives.

Revenue increased by two percent year on year to QAR23.2 billion, the company, which trades on the Qatar stock exchange, said in a statement.

“2023 was a noteworthy year. We improved our financial position and made substantial progress against our strategic priorities,” said  Aziz Aluthman Fakhroo, managing director and CEO of Ooredoo Group.

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He added that the company delivered financial results in line with its full-year 2023 guidance.  

“As we look ahead, we will continue to drive operational efficiency for profitability and cash generation while advancing our strategic priorities.”

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