Mobily’s net profits surge 49% in H1

Revenues rose by 2.4%

  
Riyadh, Saudi Arabia: Kingdom Centre tower and Etihad Etisalat / Mobily building along Hanifa Valley Street - Saudi mibile phone and internet company. Image for illustrative purposes.

Riyadh, Saudi Arabia: Kingdom Centre tower and Etihad Etisalat / Mobily building along Hanifa Valley Street - Saudi mibile phone and internet company. Image for illustrative purposes.

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Riyadh – Mubasher: Etihad Etisalat Company (Mobily) recorded a 49% annual increase in net profits after Zakat and tax to SAR 470 million during the first half (H1) of 2021 from SAR 315 million in H1-20.

Earnings per share stood at SAR 0.61 in the January-June 2021 period, compared to SAR 0.41 in the prior-year period, according to a bourse filing on Sunday.

Revenues rose by 2.4% to SAR 7.33 billion in H1-21 from SAR 7.15 billion in H1-20.

During the second quarter (Q2) of 2021, the telecom operator achieved a surge of 31.89% in net profits to SAR 244 million from SAR 185 million in Q2-20.

Annual revenues in Q2-21 stood at SAR 3.72 billion, higher by 4.7% than SAR 3.55 billion in Q2-20.

On a quarterly basis, Mobily’s profits in Q2-21 were 7.9% higher than SAR 226 million in Q1-21. The quarterly revenues were also higher by 3.4% than SAR 3.6 billion.

Source: Mubasher

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