Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) registered a 595.06% hike in net profit after Zakat and tax to SAR 563 million during the first quarter (Q1) of 2023.
The higher net profits were compared with SAR 81 million in Q1-22, according to interim financial results.
Revenues amounted to SAR 2.42 billion in Q1-23, an annual growth of 11.15% from SAR 2.17 billion.
The earnings per share (EPS) jumped to SAR 0.63 as of 31 March 2023, compared to SAR 0.09 in the year-ago period.
On a quarterly basis, the Q1-23 net profits after Zakat and tax surged by 125.20% from SAR 250 million in Q4-22, while the revenues edged up by 0.75% from SAR 2.40 billion.
Last year, Zain KSA logged net profits after Zakat and tax valued at SAR 550 million, a 157.01% increase from SAR 214 million in 2021.
Additionally, the revenues climbed by 14.86% to SAR 9.07 billion in 2022 from SAR 7.90 billion a year earlier.
