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.
REUTERS/Faisal Al Nasser
By Staff Writer, Mubasher
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.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
Get Zawya's daily newsletter for insightful and exclusive Middle East perspectives on business and finance. SUBSCRIBE NOW