Etihad Atheeb Telecommunication Co. (GO) turned to a net profit of SAR 13 million in the nine-month period ended on Dec. 31, 2022, from a net loss of SAR 29.2 million in the year-ago period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 258.33 | 452.52 | 75.2 % |
| Gross Income | 60.27 | 126.41 | 109.7 % |
| Operating Income | (41.15) | 19.46 | 147.3 % |
| Net Income | (29.16) | 12.96 | 144.4 % |
| Average Shares | 29.62 | 29.62 | 0.0 % |
| EPS (Riyals) | (0.98) | 0.44 | 144.4 % |
The profit was driven by higher revenue and lower allowance for impairment in trade receivables as well as lower general and administrative expenses, and financial charges.
This came despite higher costs of services, and, selling and marketing expenses, in addition to lower other income.
The telco turned to a net profit of SAR 8 million in Q3 2022/23, against a net loss of SAR 7.37 million a year earlier.
On a quarterly basis, the telecom operator saw a 20% increase in net profit, from SAR 6.64 million in Q2 2022/23.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 102.51 | 164.02 | 60.0 % |
| Gross Income | 25.91 | 45.75 | 76.5 % |
| Operating Income | (6.73) | 10.48 | 255.8 % |
| Net Income | (7.37) | 8.00 | 208.5 % |
| Average Shares | 29.62 | 29.62 | 0.0 % |
| EPS (Riyals) | (0.25) | 0.27 | 208.5 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 148.02 | 164.02 | 10.8 % |
| Gross Income | 43.12 | 45.75 | 6.1 % |
| Operating Income | 7.22 | 10.48 | 45.2 % |
| Net Income | 6.63 | 8.00 | 20.5 % |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | 0.22 | 0.27 | 20.5 % |
Shareholders' equity, no minority interest, at the end of the nine-month period amounted to SAR 86.96 million, compared to SAR 73.99 million a year earlier.
Accumulated losses amounted to SAR 3.04 million at the end of the current period, constituting 3.38% of the telco’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}}