Riyadh – Mubasher: Etihad Etisalat (Mobily) suffered losses of SAR 163 million in the first quarter of 2017 against profits of SAR 20 million in Q1-16.

The company turned to losses mainly due to pressures on sales and stoppage of unregistered customers as a result of applying the finger print system, according to a bourse filing.

The reduction of the interconnection rates since April 2016 also contributed to the losses.

Revenues fell 16.7% year-on-year to SAR 2.87 billion in Q1-17 compared to SAR 3.44 billion.

Gross profit also retreated 14% to SAR 1.67 billion in Q1-17 compared to SAR 1.93 billion in the same quarter of the previous year.