Saudi Arabian telecom company Etihad Etisalat Co (Mobily) saw its profit rise by 47.5% year-on-year to SAR 360 million ($96 million) for the second quarter of 2022.

The profit increase has been attributed to growth in business and wholesale segments and subscriber numbers.

According to the financial results posted on the Saudi Stock Exchange (Tadawul) on Thursday, profits grew by 12.9% on the first quarter of 2022.

Revenue for the same period grew by 4.6% YoY to 3.9 billion, and 2.3% from the previous quarter.

Net profit for the first half of the year grew by 44.5% to SAR 679 million, while revenue went up by 5.1% to SAR 7.1 billion.

(Writing by Imogen Lillywhite; editing by Cleofe Maceda)