Riyadh – Mubasher: Arabian Internet and Communication Services Company (solutions) generated SAR 1.03 billion in net profit after Zakat and tax during the first nine months (9M) of 2023.
The recorded net profits were higher by 20.33% year-on-year (YoY) than SAR 856 million, according to the interim financial results.
The earnings per share (EPS) stood at SAR 8.66 in 9M-23, an annual increase from SAR 7.20.
Revenues enlarged by 15.16% YoY to SAR 8.17 billion as of 30 September 2023 from SAR 6.36 billion.
Income Statements for Q3-23
In the third quarter (Q3) of 2023, the net profits after Zakat and tax of the telecom firm amounted to SAR 387 million, up 29% from SAR 300 million in Q3-22.
The company posted an annual rise of 37.08% in revenue to SAR 2.79 billion during the July-September 2023 period, compared to SAR 2.03 billion.
On a quarterly basis, the Q3-23 profits increased by 13.82% from the SAR 340 million reported in Q2-23, while the revenues climbed by 3.48% from SAR 2.70 billion.
