Zain Bahrain posts 3% increase in net profit

Zain Bahrain posts 3% increase in net profit

MANAMA: Zain Bahrain has reported a net profit of BD1.574 million for the first quarter (Q1 2022) ended March 31, 2022, representing a 3 per cent increase from BD1.527m for the same period in 2021.

Earnings per share for the quarter remained at 4 fils.

Operating profit in Q1-2022 showed a slight increase of 1pc from BD1.731m to BD1.749m.

Revenues for the same period amounted to BD17.200m, up by 4pc from BD16.507m in Q1-2021.

At the balance sheet level, Zain Bahrain’s total equity at the end of Q1-2022 stood at BD77.533m, down 2pc from BD78.870m for the year ended December 31, 2021.

The company’s assets for the three months ended March 31, 2022 amounted to BD128.288m, down by 2pc from BD131.077m as of December 31, 2021.

Commenting on the results, Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa said: “We have begun this year on a high note, continuing the strong performance we experienced in 2021. Zain Bahrain is now in a strong position to achieve its full potential as an integrated full-service telecommunication operator and innovator.

The company has continued with its digital transformation strategy on all fronts, strengthened its innovative technology solutions, achieving steady growth of its operating results while improving efficiency and customer