Zain KSA's profits surge 158% in H1-22

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Riyadh – The net profits after Zakat and tax of Mobile Telecommunication Company Saudi Arabia (Zain KSA) hiked by 157.83% year-on-year (YoY) to SAR 214 million in the first half (H1) of 2022 from SAR 83 million.

The company generated revenues of SAR 4.38 billion in H1-22, up 14.40% from SAR 3.83 billion in the year-ago period, according to a bourse filing on Sunday.

The earnings per share (EPS) stood at SAR 0.24 in the first six months (6M) of 2022, versus SAR 0.09 in the same period of 2021.

During the second quarter (Q2) of 2022, the company reported a 219.05% rise in its net profits after Zakat and tax to SAR 134 million from SAR 42 million in the same quarter of the earlier year.

It is noteworthy to mention that in the first quarter (Q1) of 2022, Zain KSA reported a 97.56% hike in its net profits after Zakat and tax to SAR 81 million from SAR 41 million in the year-ago period.