Financial Results : Etihad Atheeb trims loss by 61.5% to SAR 12.3 mln in Q1 2020/21

Etihad Atheeb trims loss by 61.5% to SAR 12.3 mln in Q1 2020/21

23/08/2020 Argaam Exclusive

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Etihad Atheeb Telecommunication Co. (GO) narrowed net loss after Zakat and tax by 61.5% year-on-year (YoY) to SAR 12.3 million for the three-month period ending June 30, 2020, driven by lower cost of services, decreased operating expenses, and declining cost of finance.

On a quarter-on-quarter basis, the telecom operator widened loss by 34.5% on lower revenue and higher cost of finance.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 97.10 73.03 (24.8 %)
Gross Income 39.68 39.87 0.5 %
Operating Income (25.95) (8.67) 66.6 %
Net Income (31.86) (12.27) 61.5 %
Average Shares 29.62 29.62 0.0 %
EPS (Riyals) (1.08) (0.41) 61.5 %

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