Riyadh – Mubasher: Arabian Internet and Communication Services Company (solutions) posted net profits after Zakat and tax worth SAR 856 million in the first nine months (9M) of 2022, an annual growth of 19.22% from SAR 718 million.

The firm generated SAR 6.90 billion in revenue during the January-September 2022 period, higher by 19.89% year-on-year (YoY) than SAR 5.75 billion, according to the interim income statements.

Additionally, the earnings per share (EPS) increased to SAR 7.20 in 9M-22 from SAR 5.99 in 9M-21.

In the third quarter (Q3) of 2022, solutions witnessed a 16.73% YoY hike in net profit after Zakat and tax to SAR 300 million from SAR 257 million.

Revenues soared by 14.15% YoY to SAR 2.22 billion in Q3-22 from SAR 1.95 billion.

On a quarterly basis, the Q3-22 net profits after Zakat and tax went up by 9.89% from SAR 273 million in Q2-22, whereas the revenues declined by 1.20% from SAR 2.25 billion.

In the first half (H1) of 2022, the company’s net profits after Zakat and tax amounted to SAR 556 million, a jump of 20.61% from SAR 461 million in H1-21.