Mobily's results for 2023 revealed a 34.7% increase in net profits, compared to the company's profits in 2022, amid revenue growth in all sectors.
According to the company's data on Tadawul, today, Tuesday, net profit rose to 2.23 billion riyals last year, compared to about 1.66 billion riyals the previous year.
The company explained that the increase in net profit is due to the growth in revenues of all the company’s sectors, in addition to the increase in the customer base, along with the positive impact of reversing a provision for potential liabilities worth 202 million riyals.
He pointed out that it was able to achieve the highest revenues and net profits during the past decade, in light of the company's efficiency in managing its operational processes.
The company's revenues rose to 16.76 billion riyals in 2023, compared to 15.7 billion riyals in the previous year, an increase of 6.66%.
Regarding the results of the fourth quarter of 2023, accounts and reports showed that net profit increased by 23.1% to 746 million riyals, compared to profits of 606 million riyals in the fourth quarter of 2022.
The company's results for the first nine months of 2022 showed an increase in net profit to 1.49 billion riyals, compared to 1.05 billion riyals for the same period in 2022, an increase of 41.39%.
