Zain Bahrain posts net profit in third quarter

Zain Bahrain posts net profit in third quarter

MANAMA: Network expansion and investment in cutting-edge technology have driven growth in the third quarter for Zain Bahrain, the company announced alongside Q3 financial results during its board meeting yesterday. Zain Bahrain reported a net profit of BD1.613 million in Q3, up from BD1.549 million during the same period last year – a steady increase of 4 per cent year-on-year (YoY). Revenue grew by 3pc from BD14.833m in Q3 last year to BD15.291m in 2021’s third quarter, ending September 30, 2021. “Following Zain Bahrain’s record profit increase in the second quarter of this year, we have continued to see steady growth into the third quarter of 2021,” said Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa. “Earlier this quarter, we outlined our plans for continued investment in our 4G and 5G network expansions, showing our unwavering commitment to driving further digitalisation in Bahrain, and enhancing our customers’ digital lives.” Earnings per share remained consistent at 4 fils per share similar to the same period in 2020, while the operating profit in the quarter saw an increase of 5pc to BD1.825m, as compared to BD1.746m recorded in the quarter last year. In the first three quarters of 2021, Zain Bahrain