Mubasher: Oman Telecommunications (Omantel) turned profitable in the fourth quarter of 2016, according to a bourse statement.
Profits stood at OMR 21.6 million ($56.1 million) in Q4-16, against losses of OMR 42.2 million ($109.6 million) in Q4-15.
The telecom operator posted profits of OMR 116.7 million in 2016, a growth of 140.6% from OMR 48.5 million in 2015.
Revenues amounted to OMR 525.3 million in 2016, up 2.1% from OMR 514.3 million in 2015.
