Riyadh – Mubasher: Etihad Etisalat Company (Mobily) disclosed its interim financial results for the second quarter of 2019.

The company turned profitable achieving SAR 37.77 million during Q2-19, against losses of SAR 78.63 million in Q2-18, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Sunday.

Revenues of the Saudi telecom company hiked by 15.06% to SAR 3.3 billion by the end of July, compared to SAR 2.89 billion in the same period the year before.

For the first half of 2019, Mobily’s posted SAR 105.02 million in profits, versus SAR 172.03 million in losses during H1-18.

Profit per share stood at SAR 0.14 during the six-month period ended in June, from a loss per share of SAR -0.22 in the same period of the previous year.

The company attributed turning to profits to the increase in revenues and gross profit over the first six months of 2019.