Mobile Telecommunication Company Saudi Arabia (Zain KSA) announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
- Date: 10-May-2023
- Source: Mubasher
- Sector:Financial Markets
- Country:Saudi Arabia
Mobile Telecommunication Company Saudi Arabia (Zain KSA) announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
|Element List||Current Quarter||Similar quarter for previous year||%Change||Previous Quarter||% Change|
|Sales/Revenue||2,422||2,179||11.15||2,404||0.75|
|Gross Profit (Loss)||1,415||1,236||14.48||1,452||-2.55|
|Operational Profit (Loss)||201||201||-||379||-46.97|
|Net Profit (Loss) after Zakat and Tax||563||81||595.06||250||125.2|
|Total Comprehensive Income||557||198||181.31||244||128.28|
|All figures are in (Millions) Saudi Arabia, Riyals|
|Element List||Current Period||Similar period for previous year||%Change|
|Total Share Holders Equity (after Deducting Minority Equity)||10,357||9,238||12.11|
|Profit (Loss) per Share||0.63||0.09|
|All figures are in (Millions) Saudi Arabia, Riyals|
|Element List||Explanation|
|The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is|| Zain KSA achieved the highest net profit in its history, reaching a record SAR 563 million for the period ended 31 March 2023 compared to SAR 81 million in the same period of 2022, a 595% increase.
|
The reason for the increase in the net profit is mainly due to the following:
- An increase in Net Revenue by SAR 244 million, or 11% compared to the same period of 2022. This increase was due to the growth in B2B, 5G, and Tamam.
- The cost of revenue has increased by 6.9%. Nonetheless, the gross profit increased by SAR 179 million or 14.5%.
- OPEX increased by SAR 195 million while the amortization and depreciation decreased by SAR 16 million
- Finance costs increased by SAR 50 million due to