Mobily Saudi Arabia announced its turnaround in profitability by achieving 67.3 million riyals at the end of the first quarter 2019, compared to a loss of 93.4 million riyals in the same quarter of last year.

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And the continuous improvement in Mobily's revenue for the sixth quarter in a row, had an impact on achieving this transformation, as it reached 3,201 million Saudi riyals in the first quarter of the year compared to 2,833 million riyals Saudi in the same quarter of the previous year, an increase of 13.0%. This is mainly due to the increase and improvement in the quality of the customer base, the growth of the optical fiber base, and the growth of business and wholesale sales.

According to Mobily, the total profit amounted to 1,839 million Saudi riyals in the first quarter of the year compared to 1,663 million Saudi riyals in the same quarter of the previous year, an increase of 10.6%, This is mainly due to the improvement in revenue that exceeded the impact of the new government fee calculation mechanism, previously announced, as well as the improvement in the impact of the implementation of IFRS16.

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