Etihad Atheeb Telecommunication Co. (GO) narrowed its net loss after Zakat and tax to SAR 37.4 million for the fiscal year ended March 31, 2022, from SAR 38.3 million in the year-earlier period.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 282.10 | 378.55 | 34.2 % |
| Gross Income | 141.03 | 91.84 | (34.9 %) |
| Operating Income | (41.35) | (44.85) | (8.5 %) |
| Net Income | (38.26) | (37.40) | 2.2 % |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (1.29) | (1.26) | 2.2 % |
The company cited a decrease in allowances for impairment in trade receivables and fixed assets and a fall in Zakat expenses as reasons for lower losses.
However, cost of services, selling and marketing expenses, general and administrative costs, as well as financial expenses increased.
The telco’s Q4 2021/22 net loss narrowed 94.1% year-on-year (YoY) to SAR 8.2 million.
Sequentially, net loss widened from SAR 7.37 million in Q3 2021/22.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 74.12 | 120.23 | 62.2 % |
| Gross Income | 21.88 | 31.57 | 44.3 % |
| Operating Income | (19.83) | (3.70) | 81.3 % |
| Net Income | (140.81) | (8.24) | 94.1 % |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (4.75) | (0.28) | 94.1 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 102.51 | 120.23 | 17.3 % |
| Gross Income | 25.91 | 31.57 | 21.8 % |
| Operating Income | (6.73) | (3.70) | 45.0 % |
| Net Income | (7.37) | (8.24) | (11.8 %) |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (0.25) | (0.28) | (11.8 %) |
Total shareholders’ equity, excluding minority interest, fell 33.8% YoY to SAR 74 million as of March 31, 2022, from SAR 111.74 million a year ago.
Accumulated losses amounted to SAR 16 million as of March 31, 2022, representing 17.78% of the company's capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}