Riyadh: Mobile Telecommunication Company Saudi Arabia (Zain KSA) logged net profits after Zakat and tax amounting to SAR 971 million in the first nine months (9M) of 2023.

The recorded profits hiked by 224.75% year-on-year (YoY) from SAR 299 million, according to the interim income statements.

Revenues surged by 10.03% to SAR 7.34 billion in 9M-23 from SAR 6.67 billion a year earlier, while the earnings per share (EPS) jumped to SAR 1.08 from SAR 0.33.

Financial Results for Q3-23

During the third quarter (Q3) of 2023, the firm posted 235.29% higher net profits after Zakat and tax at SAR 285 million, versus SAR 85 million in Q3-22.

The revenues stood at SAR 2.52 billion during the July-September 2023 period, up 10.41% YoY from SAR 2.28 billion.

On a quarterly basis, the Q3-23 profits enlarged by 129.84% from SAR 124 million in Q2-23, while the revenues increased by 5.56% from SAR 2.39 billion.

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