Zain revenue raises Omantel’s profits

• Omantel first quarter results
• Gross Q1 revenue increases 10%
• Omantel net profit up 60% to $168m

Omantel, Oman’s largest telecoms provider, reported a significant rise in net profits in the first quarter of 2025, thanks to strong performance by its Kuwaiti subsidiary Zain. 

Its net profit rose to OR65 million ($168 million) in the first three months of this year, up 60 percent over the same period in 2024. 

Omantel’s group gross revenue for the first quarter reached OR804 million, an increase of 10.4 percent.  

“The group revenue includes Zain Group, which contributed revenues of OR668 million,” Omantel said in its Muscat Security Market disclosure.

In 2017, Omantel acquired 12 percent of Kuwait’s Zain Group. The latter’s Q1 2025 financial results show it made a net profit of $157 million for the period, a year on year increase of 66 percent.

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Omantel offers a range of services, including fixed line, internet, mobile and wholesale communication services. It also provides data centre services and software. 

Its local competitors include Qatar’s Ooredoo, Vodafone and the Omani company Awasr.

Founded in 1987, Omantel is majority owned by the state sovereign wealth fund Oman Investment Authority.

Omantel listed on the Muscat Security Market in May 2005. Its share price was OR0.82 on Thursday, down 7.5 percent so far this year.

Zain Group listed on the Kuwait Stock Exchange in March 1985. Its share price has increased by about 2 percent for the year to date.