Saudi telecom firm Zain reports 36% dip in net profit

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The company's fourth-quarter net profit was $78m
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October 25, 2021 2:21 pm
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  • The significant dip is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent
  • Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall

Zain KSA, the Saudi telecom firm, has reported a 36 percent drop in net profit to SR143 million in the first nine months of 2021.

The significant dip is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing.

Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall, it added.

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