The business sector leads the growth of telecom companies’ profits

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Mazen Al-Sudairi, head of research at Al-Rajhi Capital, said that the business sector contributed to achieving high growth rates for the telecommunications sector in Saudi Arabia, noting that Mobily achieved great sales in the second and third quarters, driven by the business sector.

The preliminary financial results of Etihad Etisalat Company “Mobily” showed an increase in net profit after zakat and tax by 25.57% in the third quarter of 2021, to 281 million riyals, compared to a net profit of 222 million riyals for the same quarter of the previous year.

Regarding the company’s financial situation, Al-Sudairy added in an interview with “Al Arabiya” today, Tuesday, that the company’s total debts amounted to 11 billion riyals at the end of the second quarter, so it is able, with the profits of the current quarter and after expansions, to cover debts up to 150% and achieve 1.5 billion riyals inflows. Finance.

He also expected growth rates to continue at high levels thanks to the business sector.





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