The Clap
The net profits of Zain Saudi Arabia, the third mobile network operator in the Kingdom, increased by nearly 235.3% YoY in Q3-23.
What
Zain achieved “historical quarterly revenues” totaling SAR 2.5 billion, marking a 10% increase compared to Q3-22.
So What
The company’s “record quarterly revenues” were driven by sales of fifth-generation (5G) services, digital services, enterprise services, and wholesale sales. Additionally, the revenues of its subsidiary “Tamam Financing” also contributed to this growth.
What Now
The company recorded its “highest net profit” for 9 months in its history, reaching SAR 971 million. This is in contrast to SAR 299 million during the same period last year.
