Riyadh – Mubasher: The net profits after Zakat and tax of Etihad Atheeb Telecommunication Company (GO) soared by 1,922.13% to SAR 100.50 million in the first nine months (9M) of 2023 from SAR 4.97 million in the same period a year ago.
GO recorded revenues of SAR 444.22 million in 9M-23, up by 53.98% year-on-year (YoY) from SAR 288.50 million, according to the interim income statements.
The earnings per share (EPS) reached SAR 11.17 in January-September 2023, an annual increase from SAR 0.55.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, the listed company achieved net profits after Zakat and tax of SAR 47.89 million, marking a 622.32% jump from SAR 6.63 million in July-September 2022.
The company’s revenues amounted to SAR 237.89 million in Q3-23, higher by 60.71% YoY than SAR 148.02 million.
On a quarterly basis, the Q3-23 profits dropped by 8.95% from SAR 52.60 million in Q2-23, while the revenues rose by 15.29% from SAR 206.33 million.
In December 2022, GO signed contracts with the emirates of Najran and Tabuk at a value of SAR 77 million and SAR 28.23 million, respectively.
