Riyadh – Mubasher: The net profits after Zakat and tax of Etihad Etisalat Company (Mobily) hiked by 41.39% to SAR 1.48 billion during the first nine months (9M) of 2023 from SAR 1.05 billion a year earlier.
Mobily posted revenues amounting to SAR 12.39 billion in 9M-23, up 7.47% year-on-year (YoY) from SAR 11.53 billion, according to the consolidated interim income statements.
The earnings per share (EPS) hit SAR 1.93 in January-September 2023, an annual rise from SAR 1.37.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, the listed company registered net profits after Zakat and tax valued at SAR 524 million, marking a 40.48% leap from SAR 373 million in July-September 2022.
The company’s revenues stood at SAR 4.10 billion in Q3-23, higher by 7.11% YoY than SAR 3.82 billion.
Meanwhile, the gross profit went up by 2.70% YoY to SAR 2.36 billion in the three-month period that ended on 30 September 2023 from SAR 2.30 billion, driven by the increase in revenue.
Quarter-on-quarter (QoQ), the Q3-23 profits grew by 5.43% from SAR 497 million in Q2-23, while the revenues dropped by 3.48% from SAR 4.24 billion.
