Saudi telecom operator Mobily profits up 37% in 2021

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RIYADH: Saudi telecom operator Etihad Etisalat Co., known as Mobily, saw its profits jump 37 percent in 2021.

Mobily recorded a net profit of SR1billion ($266 million), up from SR783 million a year earlier, it said in a bourse statement on Tadawul.

Revenues stood at SR14.8 billion in 2021, up 5.6 percent from last year.

The strong results were primarily driven by growth in the Business and Consumer segments, as well as an increase in subscribers

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