Qatar Telecom (Q-Tel) announced has announced a 21 percent increase in net profit to 221.5 million riyals ($60.9m) in the second quarter of 2001 from the same period last year, reported the Gulf Daily News.
Q-Tel chairman Sheikh Abdullah bin Mohammad Al Thani said that revenue climbed 13 percent to 380.7m riyals ($104.6m) from 337.6m riyals ($92.7m) in the corresponding three months of 2000.
"The main drive for this growth is the phenomenal demand for our prepaid GSM service which has expanded by 100pc since end-2000 and stood at around 50,000 subscribers by June 30, 2001, and is continuing to grow at a faster pace than we expected," Sheikh Abdullah said.
"We are confident that the anticipated increase in growth of the local and regional economies during this year, together with the continued demand from customers arising from improvement in the services we provide will result in a strong business performance during the remainder of 2001," he said – Albawaba.com
