solutions by stc logs $68.53mln profits in Q3

On a quarterly basis, the Q3-21 net profits were 0.39% higher than $68.26mln in Q2-21

  
A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia February 6, 2018. Image used for illustrative purpose.

A man passes the Saudi Telecom STC office in Riyadh, Saudi Arabia February 6, 2018. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser
Riyadh –  Arabian Internet and Communications Services Company (solutions by stc) achieved net profits after Zakat and tax worth SAR 257 million during the third quarter (Q3) of 2021, up by 7% from SAR 240 million in Q3-20.

Revenues inched up 0.4% to SAR 1.95 billion in Q3-21, compared to SAR 1.94 billion in Q3-20, according to the financial results on Tuesday.

On a quarterly basis, the Q3-21 net profits were 0.39% higher than SAR 256 million in Q2-21 and the revenues went up 0.7% from SAR 1.93 billion.

As for the nine-month period that ended in September, the company recorded 14% higher profits to SAR 718 million from SAR 628 million in the first nine months of 2020.

Revenues also increased by 11.9% to SAR 5.75 billion during January-September 2021 period, compared to SAR 5.14 billon in the same period last year.

Source: Mubasher

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