July 23, 2014 / 2:30 PM / 3 years ago

Qatar telco Ooredoo posts 11 pct Q2 net profit decline

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DUBAI, July 23 (Reuters) - Qatari telecom operator Ooredoo reported a 11 percent drop in second-quarter profit on Wednesday.

The former monopoly, which operates in about 15 countries across the Middle East, Africa and Asia, made a net profit of 817 million riyals ($224.4 million) in the three months to June 30, down from 923 million riyals in the year-earlier period.

Two analysts polled by Reuters had forecast Ooredoo would make a quarterly profit of 544.2 million riyals and 623.3 million riyals respectively. ($1 = 3.6407 Qatar Riyals) (Reporting by David French; Editing by Olzhas Auyezov)

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