Oooredo reported mixed results for the third quarter of 2013, with the company noting strong performances in Qatar, Algeria and Iraq, but weakness in Kuwait and Tunisia.

The company reported a 58 per cent drop in profit, falling to QAR337 million ($92.6 million) from QAR804 million, on revenue which fell 1.4 per cent to QAR8.51 billion from QAR8.63 billion.

In a statement it said that excluding foreign exchange losses “primarily from Indosat”, profit stood at “the same level” as in the prior year period.

The company ended the period with 89.6 million customers, up 0.4 per cent year-on-year.

Its home operator of Qatar generated revenue of QAR1.65 billion, up 4.4 per cent year on year, with pre-tax profit of QAR308.9 million, down 23 per cent. The period saw the full commercial launch of 4G services by Ooredoo in the country.

Revenue in its Wataniya unit of QAR2.36 billion was down 4.8 per cent, while pre-tax profit of QAR416 million was down 10 per cent. While Algeria delivered a strong performance, Wataniya Kuwait “continues to experience competitive pressure” and the Tunisian unit is suffering from a poor economic climate.

In the Indosat unit (Indonesia), revenue fell 11 per cent to QAR2,08 billion, and the company moved to a pretax loss of QAR671 million from a prior-year profit of QAR278.3 million. Foreign exchange rate movements had a negative impact.

And for Asiacell (Iraq), revenue increased 5.5 per cent to QAR1.81 billion, and pretax profit climbed 3.4 per cent to QAR621.1 million. Ooredoo said that this business “performed well and delivered consistently to our expectations” – it increased its stake to 64.06 per cent in February 2013, following the conclusion of an IPO.

Among its operating highlights was the apointment of Ross Cormack, former Nawras CEO, to head its new unit in Myanmar. This division is “in the process of finalising the license terms and preparations are underway for the commercial rollout of next-generation mobile services”.

It has also successfully participated in the 3G license issue in Algeria, through its Nedjma unit.

Separately, Ooredoo said it will sell its stake in Bravo, a unit operating an iDEN network in Saudi Arabia, to STC.

The companies signed a “build operate transfer” agreement in 2005, and Ooredoo said that the unit is “no longer core to Ooredoo Group’s strategy.”

“Ooredoo and Wataniya Group are focusing on core businesses, based on global technology standards,” it continued.