Qtel shares end flat on third quarter results

21 October 2010

The local Qatar stock market saw its QE Index adding 0.07% to close at 7,728. Shares of state-controlled Qatar Telecom (Qtel) closed unchanged at QR177. Qtel reported Q3 profits today on October 21st of QR651.9m, down 8.3% on a year-on-year basis. During the first nine months Qtel earned QR2.43bn or 3.7% more than during tha corresponding period in 2009. Qtel announced further that its customer base surged 30.6% to 68.9m. Qtel added that it benefits from strong momentum in the foreign markets of Indonesia, Iraq and Algeria where the firm operates.

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