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Mobily narrows losses to SAR 30m in Q3

Mobily narrows losses to SAR 30m in Q3
Net losses amounted to SAR 30.9 million in the three-month period ended September
ETIHAD ETISALAT
7020
-0.20% 25.05 -0.05

Riyadh – Mubasher: Etihad Etisalat Company (Mobily) on Sunday reported a sharp decrease in losses by 82.3% for the third quarter of 2018.

Net losses amounted to SAR 30.9 million in the three-month period ended September, compared to SAR 174.5 million in Q3-17, according to a filing to the Saudi Stock Exchange (QSE).

The telecomcimmunication company attributed the drop in losses to the increase in revenues by 6.1% year-on-year to SAR 2.97 billion.

This is mainly due to an improvement in consumer revenues, growth in FTTH sales and an increase in business unit revenues driven by sales to government sectors.

By the end of Sunday’s session, Mobily’s stock rose 0.2% at SAR 16.6.