Vodafone Qatar widens losses by 5% in Q3 to QAR 72 mln

Vodafone Qatar, an affiliate of the UK-based mobile phone operator Vodafone Group, reported a net loss of QAR 72.2 million in its third-quarter, five percent wider when compared to the same period in the previous year.

The telco widened its losses by 91 percent year-on-year (YoY) to QAR 285.7 million in the nine-month period ending December 31.

The company’s fiscal year will end on March 31, 2016.

The telco has yet to report a quarterly net profit since it listed on the Qatar Stock Exchange in 2009.

The disappointing results come after the departure of Vodafone Qatar’s chief executive Kyle Whitehill last month. Whitehill recently told Reuters that the firm’s mounting losses was due to a “significant slowdown in the market in terms of growth.”