The losses of Etihad Atheeb Telecom Company GO recorded a decline of 1.3% in the first quarter of the fiscal year 2021 to 12.11 million riyals, compared to losses of 12.27 million riyals in the first quarter of the previous fiscal year.
According to Arab Net, the company's losses decreased by 91.4% in the first quarter of the current fiscal year, compared to losses of about 140.8 million riyals in the fourth quarter of the previous fiscal year. .
In a statement on Tadawul Saudi Arabia, today, Sunday, Atheeb Telecom said that the reason for the decrease in the net loss in the first quarter of the company's financial year, on an annual basis, is due to the high Other income and decrease in depreciation and amortization expenses and impairment expenses in trade receivables, despite the increase in the cost of services, selling and marketing expenses, general and administrative expenses and higher financing costs.
The company stated that its accumulated losses at the end of the first quarter of the current fiscal year amounted to about 128.9 million riyals, equivalent to 56.41% of the capital of 228.53 million riyals.< /p>
