Riyadh – Mubasher: The net losses after zakat and tax of Etihad Atheeb Telecommunication Company (GO) decreased by 1.3% year-on-year (YoY) to SAR 12.11 million during the first quarter (Q1) of fiscal year 2021/2022.
Lower net losses are driven by an increase in revenue and other income and a decrease in depreciation and amortization and allowance for impairment in trade receivables, according to a bourse filing on Sunday.
The company's revenues rose by 2.656% to SAR 74.97 million in the three-month period ending 30 June 2021 from SAR 73.03 million in the year-ago period.
The company has logged accumulated losses of SAR 128.9 million, representing 56.41% of the capital.
It is noteworthy to mention that during fiscal year (FY) ended in March 2021, GO suffered net losses after Zakat and tax of SAR 38.26 million, decreasing by 46.5% from SAR 71.61 million in the prior year.
