Saudi Mobily posts 21% jump in Q1 income

17 Apr 2012

(MENAFN) Etihad Etisalat (Mobily) said that net income in the first quarter jumped 21 percent to USD322 million, from USD266 million in 2011’s same period, reported Arab News.

The company added that operating income grew 19 percent to USD333 million, compared with USD279 million a year earlier.

It also said that revenue in the quarter rose 12 percent from the USD1.19 billion recorded in last year’s same period to USD1.33 billion, attributing the increase to higher revenue from voice services, with the rise in the number of minutes of use, the continued growth in the number of postpaid subscribers and the surge in business sector revenue.

Moreover, the EBITDA margin amounted to 36 percent, up from 35 percent for 2011’s same quarter.

It is worth noting that gross profit for the first quarter leaped 14 percent to USD695 million, from USD610 million in the previous year.

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