Zain Bahrain net profit rises 21%

Earnings per share in Q3-2020 were 4 fils

  

MANAMA: Zain Bahrain has reported a 21 per cent rise in net profit for Q3-2020 at BD1.549 million ($4.108m) when compared with BD1.283m ($3.403m) in Q3 2019.

Revenue for Q3-2020 amounted to BD14.833m, down by 2.68pc as compared with BD15.243m in Q3-2019.

Earnings per share (EPS) in Q3-2020 were 4 fils, up 33pc from 3 fils in Q3-2019.

Operating profit for Q3-2020 was BD1.746m, an increase of 13pc year-on-year (YoY), compared with BD1.538m recorded in Q3 2019.

For the nine months ended September 30, 2020, Zain Bahrain reported net profit of BD3.706m, representing a 3pc decrease YoY from BD3.815m for the same period in 2019.

Revenues for the period saw an increase of 1pc YoY to BD46.252m.

The growth was driven by mobile data and broadband usage, as well as continual expansion of 5G network across the kingdom.

Earnings per share remained resilient at 10 fils for both nine-month periods in 2019 and 2020.

Operating profit for the first nine months of 2020 was BD4.404m, a 5pc decrease on BD4.644m recorded in 2019.

Shareholders equity stood at BD73.783m, up 4pc YoY, from BD70.806m in 2019.

Zain Bahrain’s asset base as of end-September stood at BD122.780m, up 6pc YoY from BD116.064m in 2019.

Commenting, Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa said, “The commercial launch of 5G services offers incredible mobile experiences to our customers, accelerating new innovative business models and unlocking opportunities for many sectors.

“With the ever-increasing demand for mobile data and broadband services due to the unprecedented times we face, the resilience and capability of broadband networks has become even more critical for us.

“The team is working tirelessly to ensure that connectivity and communication services operate in a reliable, stable, and secure manner. The Q3 results are a testament to the fact that strategies are empowering our customers, and we are committed to increasing the capacity of broadband connections, enhancing network performance and digital services to cater for unprecedented levels of data usage.”

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