The financial statements of Etihad Etisalat (Mobily) showed an increase in the company's profits in the third quarter of this year by 32.7% on an annual basis, to reach 373 million riyals, compared to 281 million riyals in the same period in 2021.
Mobily said in a statement to the Saudi market (Tadawul), today, Sunday, that the increase in profits during the comparison periods is mainly due to the increase in revenues, as the company continued to raise its revenue in the third quarter of this year, to reach 3.83 billion riyals, an increase of 3.6% over its counterpart. in the previous year.
Mobily clarified in the statement that the increase in revenues during the comparison periods came as a result of the growth in revenues of all the company's sectors, in addition to the growth of the fiber-optic subscriber base and the increase in the customer base.
Mobily’s operating profit improved during the third quarter of this year by 26.2% to reach 534 million riyals, compared to operating profits of 423 million riyals in the same quarter of the previous year, due to the improvement in profit before deduction of depreciation, amortization, Islamic Murabaha costs and zakat.
Mobily achieved profits of 1.05 billion riyals at the end of the first nine months of this year, compared to 751 million riyals in the same period of the previous year, with an increase in net profits of nearly 40%.
