Kuwait - Mubasher: Mobile Telecommunications (Zain) reported a decline in net profits for the third quarter of 2017 by 7% year-on-year, according to a bourse filing.
The telecom company reported a net profit of nearly KWD 40 million ($133 million) in Q3-17, compared to KWD 43 million for the same period last year, the company said in a statement to Boursa Kuwait.
Revenues amounted to KWD 259 million, while earnings before interest, tax, depreciation and amortization (EBITDA) stood at KWD 104 million.
As for the nine-month period that ended 30 September, profits declined y 1.6% to KWD 122 million down from KWD 124 million for the first nine months of 2016.
During that period, revenues totalled KWD 767 million down from KWD 826 million for the same period last year.
