Telecom Zain KSA profits drop 36% for first 9 months of 2021

The decline is due to a 1% drop in revenue, as well as rising revenue costs by 19%, the company said

  
An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

REUTERS/Faisal Al Nasser
DUBAI: Saudi telecom firm Zain KSA posted a net profit of SR143 million ($38.1 million) in the first nine months of 2021, a 36 percent drop from the same period last year.

The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing.

Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall, it added.

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