Ooredoo Myanmar recorded a lower pre-tax loss in 2022 as its parent company prepared to exit the market by pulling back on its network investment and other expenses.
Telecoms service revenue fell 2.5 per cent to QAR1 billion ($274.7 million) due to a shutdown of internet services in some regions and a 15 per cent tax increase on data services.
Equipment sales plummeted to QAR304,000 from QAR2.7 million in 2021.
The company stated total revenue increased 15 per cent in local currency terms.
Its segment loss before tax fell to QAR360 million from QAR3.5 billion.
Capex dropped to QAR67.2 million from QAR141.5 million. Depreciate and amortisation costs declined 50 per cent to QAR314.4 million, and financial costs fell 80 per cent to QAR39.9 million.
In September 2022, Ooredoo Group forged a deal to sell the unit to Singapore-headquartered Nine Communications for an estimated $576 million.
At the time the company noted the sale is subject to customary closing conditions, including regulatory approvals.Subscribe to our daily newsletter Back