Etihad Atheeb Communications Company (GO Go) recorded a 2.25% decrease in annual losses for the fiscal year ending March 31, 2022, to reach 37.4 million riyals, compared to losses It amounted to 38.26 million riyals in the previous fiscal year.
According to Arabiya Net, the company said in a statement, that the reason for the decrease in net loss is due to higher sales, lower impairment losses in trade receivables and lower impairment losses. Fixed assets and a decrease in Zakat and income tax expenses, despite the increase in the expenses of the cost of revenue, selling and marketing expenses, the increase in general and administrative expenses, the increase in the cost of financing and the decrease in other revenues.
The company added that its accumulated losses amounted to about 16 million riyals as on March 31, 2022, which represents 17.78% of the company's capital.
