DUBAI, Jan 15 (Reuters) - Ooredoo Oman ORDS.OM , the sultanate's No.2 telecom operator, reported a 5.4 percent fall in fourth-quarter net profit on Sunday.

* The firm, majority-owned by Qatar's Ooredoo ORDS.QA , made 8.7 million rials ($22.6 million) in the three months to Dec. 31, down from 9.2 million rials in the year-earlier period, it said in a bourse statement.

* Gulf Baader Capital Markets forecast: 10.6 million rials net proft.

* Fourth-quarter revenue of 68.2 million rials, versus 65.2 million rials a year earlier.

* Full-year profit of 46.3 million rials, versus 41.6 million rials in 2015.

Ooredoo Oman competes with Oman Telecommunications OTL.OM (Omantel) for market share. The telecom operators will have to pay a 12 percent royalty fee on their revenues in 2017, up from 7 per cent in the previous year.

($1 = 0.3850 Omani rials)

(Reporting by Alexander Cornwell; Editing by Tom Arnold) ((Alexander.Cornwell@thomsonreuters.com;))