Zain KSA Q3 Profit Jumps 114% to SAR 150 Million

The net profit of the Mobile Telecommunication Company Saudi Arabia (Zain KSA) jumped 114% to 150 million riyals during the third quarter, compared to 70 million riyals in the same quarter last year, following the announcement today of the preliminary consolidated financial results for the period ending Sep. 30, 2024 (9 months).

The operational profit decreased 0.3% to 318 million riyals in the third quarter, compared to 319 million riyals in the same quarter last year.

As for the net profit in the current period, it decreased 76% to 322 million riyals, compared to 1.3 billion riyals in the same duration last year.

The profits per share in the current duration amounted to 0.17 riyals, compared to 0.08 riyals in the same duration last year.

Zain KSA stated that it witnessed an increase in its revenues during the third quarter of 2024 by 58 million riyals, with a growth rate of (2.3%) over the same quarter last year. This increase is due to the growth in revenues of the business sector, fifth generation services, and wholesale sales, in addition to the growth in revenues of “Tamam” business.