Mubasher: National Mobile Telecommunications (Ooredoo) has reported a 3.9% year-on-year decline in its profit during the first quarter of 2019.

The company’s net profit went down to KWD 8.81 million ($29 million) in Q1-19 versus KWD 9.17 million ($30.2 million) in the year-ago period, according to a bourse statement released on Wednesday.

The Boursa Kuwait-listed firm posted a decline of 24.9% in profits to KWD 29.71 million in 2018 compared to KWD 39.54 million a year earlier. 

In March, the telecom operator’s ordinary general meeting (OGM) approved distributing a cash dividend distribution of QAR 2.5 per share for the year ended 31 December 2018.