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Ooredoo Kuwait Achieves 8% Revenue Growth, Customer Base Reaches New Highs in 2024

October 28, 2024
1 min read
Author: Aayushya Ranjan

National Mobile Telecommunications Company K.S.C.P “Ooredoo” reported its nine-month financial results ending 30 September 2024, with consolidated revenue growing by 8% to KWD 527 million, driven by performance in Kuwait, Tunisia, Algeria, and the Maldives. The net profit attributable to NMTC declined to KWD 42 million, mainly due to a one-time regulatory gain recorded in Q1 2023. Excluding this impact, net profit rose by 13% compared to the previous year.

Ooredoo’s customer base expanded by 5% to reach 26.4 million. In Kuwait, revenue increased by 6%, though EBITDA was impacted by a KWD 7.5 million bad debt provision. Tunisia’s revenue rose by 4%, Algeria saw a 16% increase, and Palestine achieved an 8% customer base growth despite infrastructure challenges in Gaza. In the Maldives, Ooredoo reported a 6% revenue increase.

The reports highlight that Ooredoo remains focused on enhancing network investments, digital transformation, and customer experience, while pursuing growth aligned with strategic initiatives in each market.

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