Mobily's earnings jumped 390% in the second quarter

Etihad Etisalat Company (Mobily) achieved a jump of 389.8% in the quarterly profit, to reach its value after Zakat and tax to 185 million riyals in the second quarter of 2020, compared to 37.77 million riyals In the same period in 2019.

According to ArabiaNet, the company achieved 42.3% growth in its profits, compared to that achieved in the previous quarter, which was 130 million riyals.

The operating profit of the company in the second quarter amounted to two billion riyals, compared to 1.95 billion riyals, in the second quarter of 2019, a growth of 5.4%.

During the first months of 2020, the company's profits grew to 315 million riyals, compared to 105 million riyals, in the corresponding period of 2019, with a growth of 199.9%.

>

Mobily said it was able to achieve a net profit for the second quarter of the year 2020 for several reasons, including improving its revenue for the second quarter of the year 2020 AD, reaching 3,559 million riyals compared to With 3,331 million riyals in the same quarter of the previous year, an increase of 6.8%, due mainly to the growth of business sector sales, wholesale sales and the growth of the optical fiber base.

The total profit amounted to 2,062 million riyals in the second quarter of 2020 compared to 1,956 million riyals in the same quarter of the previous year, an increase of 5.4%, due mainly to To the improvement in revenue.

The company continued to raise profit before deduction of depreciation, amortization, Islamic murabaha and Zakat costs (EBITDA) to reach 1,335 million riyals in the second quarter of 2020 compared to 1,221 million riyals For the same quarter of the previous year, an improvement of 9.3%, due to the improvement in the company's efficiency in managing its operations and the increase in revenues.

The EBITDA margin ratio improved to 37.5% in the second quarter of 2020 compared to 36.7% in The corresponding quarter of the previous year.

Operating profits during the second quarter of 2020 improved by 27.8% to reach 334 million riyals, compared to an operating profit of 261 million riyals.

in the corresponding quarter of the previous year, due to improved profit before depreciation, amortization and Islamic Murabaha and Zakat costs (EBITDA).

Finance charges for the second quarter of 2020 decreased to 139 million riyals, compared to 217 million riyals ...