Zain KSA posts 0.3% higher profits in Q3

Quarter-on-quarter (QoQ), the net profits in Q3-21 were 45% higher

  
A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018.

REUTERS/Faisal Al Nasser
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) registered net profits after Zakat and tax worth SAR 60.4 million during the third quarter (Q3) of 2021, up 0.3% from SAR 60.2 million in Q3-20.

Revenues increased by 2.9% to SAR 1.98 billion in Q3-21 from SAR 1.92 billion in Q3-20, according to the initial financial results on Monday.

Quarter-on-quarter (QoQ), the net profits in Q3-21 were 45% higher than SAR 41.65 million in Q2-21, and the revenues grew 4.6% from SAR 1.89 billion.

During the first nine months of 2021, the telecom operator posted lower profits by 36% year-on-year (YoY) at SAR 143 million from SAR 224 million.

Earnings per share declined to SAR 0.159 at the end of September 2021 from SAR 0.331 in the same period a year ago.

Revenues went down 0.6% YoY to SAR 5.81 billion in the January-September 2021 period from SAR 5.85 billion.

Source: Mubasher

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