Mobily’s profits exceed $279mln in 9M-22 initial results

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Riyadh - Etihad Etisalat Company (Mobily) generated net profits after Zakat and tax of SAR 1.05 billion in the first nine months (9M) of 2022, higher by 39.95% than SAR 751 million in 9M-21.

The Tadawul- listed firm posted revenues worth SAR 11.53 billion in January-September 2022, a growth of 5.49% from SAR 10.93 billion in the year-ago period, according to the consolidated interim financial results.

Meanwhile, the earnings per share (EPS) rose to SAR 1.37 in 9M-22 from SAR 0.97 in 9M-21.

During the third quarter (Q3) of 2022, Mobily registered a 32.74% year-on-year (YoY) hike in net profit after Zakat and tax to SAR 373 million from SAR 281 million.

Revenues increased by 6.16% YoY to SAR 3.82 billion in Q3-22 from SAR 3.60 billion.

On a quarterly basis, the Q3-22 net profits after Zakat and tax enlarged by 3.61% from SAR 360 million in Q2-22, whereas the revenues retreated by 1.82% from SAR 3.89 billion.

In the January-June 2022 period, the company’s net profits amounted to SAR 679 million, an annual jump of 44.47% from SAR 470 million.