Financial Results : Mobily’s Q1 2022 net profit climbs 41% to SAR 319 mln

Mobily’s Q1 2022 net profit climbs 41% to SAR 319 mln

21/04/2022 Argaam Exclusive

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Etihad Etisalat Co. (Mobily) reported a net profit after Zakat and tax of SAR 319 million for Q1 2022, a jump of 41% from SAR 226 million last year.

 

The profit growth was attributed to a 5.8% year-on-year (YoY) rise in revenues, driven by an increase in business, consumer and wholesale segments, in addition to healthy growth in the subscriber base.

 

The telecom operator also cited YoY growth of 8% and 5.9% in gross profit and EBITDA, respectively.

 

Meanwhile, finance charges decreased by 1.2% YoY. On the other hand, Zakat expenses rose to SAR 31 million in Q1 2022, from SAR 18 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 3,602.68 3,811.01 5.8 %
Gross Income 2,071.56 2,237.58 8.0 %
Operating Income 361.55 460.90 27.5 %
Net Income 225.87 319.03 41.2 %
Average Shares 770.00 770.00 -
EPS (Riyals) 0.29 0.41 41.2 %

Shareholders’ equity, after minority interest, increased 6.3% to SAR 15.601 billion in Q1 2022, from SAR 14.674 billion a year earlier.

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