Riyadh – Mubasher: The net profits of Mobile Telecommunication Company Saudi Arabia (Zain KSA) retreated by 86.25% to SAR 172 million in the first half (H1) of 2024 from SAR 1.25 billion in H1-23.

The revenues stood at SAR 5.08 billion in H1-24, up 5.64% year-on-year (YoY) from SAR 4.81 billion, according to the income results.

Earnings per share (EPS) plummeted to SAR 0.19 in the first six months (6M) of 2024 from SAR 1.39 in the year-ago period.

Financial Results for Q2-24

In the second quarter (Q2) of 2024, the company's net profits reached SAR 105 million, down 7.89% YoY from SAR 114 million.

The revenues increased by 6.68% to SAR 2.55 billion in the three-month period that ended on 30 June 2024 from SAR 2.39 billion.

Quarter-on-quarter (QoQ), the net profits generated in Q2-24 hiked by 56.71% from SAR 67 million in Q1-24, while the revenues inched up by 0.67% from SAR 2.53 billion.