Oman telco Nawras Q4 profit falls 3 pct

DUBAI Thu Jan 30, 2014 2:55am EST

DUBAI Jan 30 (Reuters) - Oman's No.2 telecom operator, Nawras, reported a 3 percent fall in fourth-quarter profit on Thursday, due to higher depreciation linked to investment in network modernisation and expansion.

The firm, majority-owned by Ooredoo, made a net profit of 10 million rials ($25.97 million) in the three months to Dec. 31, down from 10.3 million rials in the year-earlier period, it said in a bourse statement.

Revenue for the quarter increased to 52.8 million rials, up 2.7 percent from 51.4 million rials for the corresponding period in 2012. ($1 = 0.3851 Omani rials) (Reporting by Olzhas Auyezov; Edting by)