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Nawras posts 3% drop in Q4 profit

February 1, 2014 1:53 am

Oman’s second telecoms operator, Nawras, has posted a 3% drop in fourth-quarter profit, due to higher depreciation linked to investment in network modernisation and expansion, Reuters has reported. Nawras, majority-owned by Ooredoo, made a net profit of OR10m ($25.97m) in the three months to December 31, compared with OR10.3m in the year-earlier period, the firm said. Revenue for the quarter increased 2.7% to OR52.8m from OR51.4m for the corresponding period in 2012, it said.