Zain Bahrain Q1 net profit up 3%, revenue soars $56mln

Zain Bahrain Q1 net profit up 3%, revenue soars $56mln

Zain Bahrain, a telecommunications industry innovator in the kingdom, has registered a 3% growth in its net profit for the first three months of the year, while its revenue for the period surged to BD17.2 million ($56.2 milion), up 4% from last year's figure of BD16.507 million ($54 million).

Announcing the results for the three months ended March 31, 2022, Zain Bahrain said the net profit rose from BD1.527 million to BD1.574 million for the first quarter. Its earnings per share for the quarter remained at 4 fils.

Its operating profit for Q1 showed a slight increase of 1% from BD1.731 million to BD1.749 million, it added.

At the balance sheet level, Zain Bahrain's total equity at the end of Q1 2022 stood at BD77.533 million, down 2% from BD78.870 million for the year ending December 31, 2021.

The company's assets for the three months hit BD128.288 million, down by 2% from BD131.077 million as of 31 December 2021.

Commenting on the results, 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