Zain Bahrain has reported a net profit of BD1.43 million for the three months ending March 31, 2023, representing a reduction of 8.9 per cent from BD1.57m for the same period in 2022.
Earnings per share for the quarter remained at 4 fils.
Operating profit in Q1-2023 showed a decrease of 11pc from BD1.75m to BD1.56m. Revenues for the same period are higher by 5.6pc amounting to BD18.17m compared to BD17.20m in Q1 2022.
At the balance sheet level, Zain Bahrain’s total equity at the end of Q1 2023 is at BD81.33m, down by 2.2pc from BD83.17m for 2022.
The company’s assets for the three months ended March 31, 2023 are BD136.56m, down by 2.2pc from BD139.63m as of end-2022.
Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa said: “In this first quarter, Zain Bahrain has once again delivered a solid performance with higher revenues, and the confirmation that the telco is on track to achieve its 2023 target. We continue to create value byconcentrating on our fundamentals while improving efficiency and customer experience.
“Zain Bahrain will continue pursuing digital transformation at an accelerated pace, enabling it to continue delivering a superior customer experience, invest in the latest technologies, and enhance its 4G and 5G network across many newly developed areas in the kingdom. Today, we have a solid base from which to put our new strategic plan into action, working together and with determination.”Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).