Mobily’s consolidated profit jumps 37% YoY in Q1-24

Revenues leapt 11.67% YoY to SAR 4.54 billion in Q1-24 from SAR 4.07 billion, according to the interim financial results

Staff Writer, Mubasher

May 12, 2024

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Etihad Etisalat Company’s (Mobily) consolidated net profit surged 37.20% year-on-year (YoY) to SAR 638 million in the first quarter (Q1) of 2024 from SAR 465 million.

Revenues leapt 11.67% YoY to SAR 4.54 billion in Q1-24 from SAR 4.07 billion, according to the interim financial results.

The earnings per share (EPS) hit SAR 0.83 in the three-month period that ended on 31 March 2024, up from SAR 0.60 in the corresponding period a year earlier.

Quarter-on-quarter (QoQ), the company’s net profit declined by 14.47% in Q1-24 from SAR 746 million in Q4-23, while revenues went down by 5.55% from SAR 4.30 billion.

In 2023, Mobily posted a 34.70% YoY surge in consolidated net profit to SAR 2.23 billion from SAR 1.65 billion.

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