Mobily's profits increased strongly out more than 73%, reaching SR 226 million in the first of 2021, compared to SR 130 million in the same period from 2020.
According to Arab Net, Mobily's revenues for the first quarter of 2021 rose 0.08%, up to 3 billion and 603 million riyals compared to 3 billion and 600 million riyals in the same quarter of the previous year.
The company attributed this in a statement on the Saudi market site trading, mainly, to grow business sales and growth of the fiber optical base despite the impact of precautionary measures taken to reduce the proliferation of Corona pandemic on some of the company's services such as international roaming, as well as reducing the calculatial call prices .
The company also pointed to the improvement of operational profits during the first quarter of the year by 24.56% to 369 million riyals, for operational profits of SR 296 million in the same quarter of the previous year. This is mainly improved to improve profit before deducting consumption, fire, Islamic Murabaha and Zakat (EBITDA).
The financing expenses for the first quarter of SR 126 million, compared to SR 162 million for the first quarter of 2020, decreased as a decrease of 21.91% due to low interest rate.
