Omantel Q1 net profit rises 18 pct

DUBAI Wed May 7, 2014 3:17pm EDT

DUBAI May 7 (Reuters) - Oman Telecommunications (Omantel) reported an 18 percent rise in first-quarter profit on Wednesday.

The former monopoly made a net profit of 34.4 million rials ($89 million) in the three months to March 31, up from 29.1 million rials in the year-earlier period, it said in a statement. ($1 = 0.3850 Omani Rials) (Reporting by Matt Smith; editing by Keiron Henderson)

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