Zain Bahrain posts 3% increase in net profit

PHOTO

MANAMA: Zain Bahrain has reported a net profit of BD1.574 million for the first quarter (Q1 2022) ended March 31, 2022, representing a 3 per cent increase from BD1.527m for the same period in 2021.

Earnings per share for the quarter remained at 4 fils.

Operating profit in Q1-2022 showed a slight increase of 1pc from BD1.731m to BD1.749m.

Revenues for the same period amounted to BD17.200m, up by 4pc from BD16.507m in Q1-2021.

At the balance sheet level, Zain Bahrain’s total equity at the end of Q1-2022 stood at BD77.533m, down 2pc from BD78.870m for the year ended December 31, 2021.

The company’s assets for the three months ended March 31, 2022 amounted to BD128.288m, down by 2pc from BD131.077m as of December 31, 2021.

Commenting on the results, Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa said: “We have begun this year on a high note, continuing the strong performance we experienced in 2021. Zain Bahrain is now in a strong position to achieve its full potential as an integrated full-service telecommunication operator and innovator.

The company has continued with its digital transformation strategy on all fronts, strengthened its innovative technology solutions, achieving steady growth of its operating results while improving efficiency and customer experience.”

Shaikh Ahmed added: “Zain Bahrain plays a significant role in supporting the Kingdom’s Vision 2030 toward a digital economy that includes expanding the network and investing in innovations to uplift the end-user experience and grow the digital infrastructure with the next-generation connectivity.

We are the first telecom in the kingdom to deploy new technologies such as narrowband Internet of Things (NB-IoT) and Ericsson New Carrier Aggregation (NR-NR) to use on mid-band frequency to boost the user experience and enable high data rates, which comes as part of Zain Bahrain’s ongoing commitment to enhance its 4G and 5G coverage.

We also, expanded our 5G commercial services nationwide, and promoted our Fiber Broadband, offering incredible mobile experiences to customers.

“Zain Bahrain will continue pursing digital transformation at an accelerated pace which will enable us to continue delivering a superior customer experience,” concluded the chairman.