The financial statements of Etihad Etisalat (Mobily) showed an increase in the company's profits in the first nine months of this year by 39.8% on an annual basis.
According to the company's results for the Saudi market (Tadawul), today, Tuesday, the profits for the period amounted to 751 million riyals, compared to profits of about 537 million riyals in the first nine months of 2020.
The company achieved profits of 281 million riyals in the third quarter of this year, compared to profits for the same period in 2020 of 222 million riyals, an increase of 26.6%.
The company attributed the higher profits to higher revenues; This is mainly due to the growth of business sector sales, the growth of the fiber-optic base in addition to the increase in the customer base.
Finance expenses decreased in the third quarter of this year; To reach 125 million riyals, compared to 134 million riyals for the same period in 2020, a decrease of 6.4%.
In contrast, the company's operating profits improved to rise in the third quarter by 18.8%; Thanks to the improvement in the profit before deduction of depreciation, amortization, Islamic Murabaha costs and Zakat.
