Saudi Arabia's telecommunications operator Etihad Etisalat (Mobily) posted a first quarter profit after zakat and tax of 319 million riyals ($85 million), a 41 percent jump compared to a year earlier.
Mobily, an affiliate of the UAE’s Etisalat, said in a Saudi Stock Exchange (Tadawul) filing that revenue grew nearly 6 percent to 3.8 billion riyals due to growth in the business, consumer and wholesale segments.
Capital expenditure reached 220 million riyals in the first quarter of 2022, compared to 155 million riyals in Q1 2021.
Financial charges fell 1.2 percent to 125 million riyals, from 126 million riyals over the same period. However, Zakat expenses came in at 31 million riyals in the quarter under review compared to 18 million riyals a year earlier.
(Reporting by Brinda Darasha; editing by Cleofe Maceda)