Zain KSA’s net profits hike 114% in Q3-24 - Mubasher Info

ZAIN KSA
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Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) generated SAR 322 million in net profit during the first nine months (9M) of 2024, an annual plunge of 75.62% from SAR 1.32 billion.

The company posted revenues amounting to SAR 7.67 billion as of 30 September 2024, up 4.50% year-on-year (YoY) from SAR 7.34 billion, according to the initial financial statements.

Earnings per share (EPS) climbed to SAR 0.17 in 9M-24 from SAR 0.08 in the year-ago period.

Income Statements for Q3-24

In the third quarter (Q3) of 2024, the Saudi telecom group recorded a 114.28% YoY leap in net profit to SAR 150 million, compared to SAR 70 million.

Revenues increased by 2.29% to SAR 2.58 billion in Q3-24 from SAR 2.52 billion a year earlier.

Quarter on quarter (QoQ), the Q3-24 net profits jumped by 42.85% from the SAR 105 million recorded in Q2-24, while the revenues grew by 1.21% from SAR 2.55 billion.

Source: Mubasher Source: {{details.article.source}}