Zain KSA sees 219% rise in quarterly net profit

Zain KSA sees 219% rise in quarterly net profit

Zain KSA has achieved SAR 134 million in net profit during the second quarter of 2022, a 219% growth compared to the same period of 2021 and an 65% increase compared to the first quarter of 2022. These results reflect uninterrupted positive operational and financial performance marked by a 16% year-over-year growth in revenues during the second quarter of 2022, to SAR 2,206 million. These results are mainly driven by sustained growth in 5G and B2B revenues and higher demand owing to the resumption of Umrah and international travel after the relaxing of COVID-19 restrictions.

This positive financial performance coincides with Zain KSA’s expansion of its portfolio of digital products and solutions aiming to provide the most innovative services and the best customer experience. Zain KSA has reaffirmed its commitment to being the preferred choice for all segments of customers (individuals, businesses, and governments) by pursuing an ambitious vertical expansion plan, especially in the areas of 5G and cloud computing services with their wide range of use cases in AI, VR, AR, and the IoT.

Commenting on the financial results, Eng. Sultan bin Abdulaziz Al-Deghaither, CEO of Zain KSA, said: “The results of the second quarter of this year confirm Zain KSA’s