Mobily’s profits rise to 829 million riyals during Q3, by 58%

Etihad Etisalat Company (Mobily) net profit increased to 829 million riyals during the third quarter compared to 524 million riyals in the same quarter last year by 58%, following the announcement today of the preliminary consolidated financial results for the period ending September 30, 2024 (9 months).

Operating profit amounted to 960 million riyals in the third quarter compared to 692 million riyals in the same quarter of the previous year, an increase of 39%.

As for the net profit in the current period, it amounted to 2.1 billion riyals compared to 1.48 billion riyals in the same period last year, an increase of 43%.

Earnings per share in the current period amounted to 2.75 riyals compared to 1.93 riyals in the same period last year.

The company said in a statement that during the third quarter of the fiscal year 2024, it continued to achieve growth in its revenues to reach 4,499 million riyals, compared to 4,118 million riyals in the same quarter of the previous year, an increase of 9.3%, mainly due to the growth in revenues of all the company’s sectors, supported by growth in the business sector.