Zain Saudi Arabia today announced revenue, EBITDA and net profit during the third quarter of 2018.
Zain Saudi Arabia posted revenue of SAR 1.952 billion (+8 percent), EBITDA of SAR 728 million (+15 percent) and net profit of SAR 48 million against SAR 3 million for the three months ended 30 September 2018.
Zain’s financial performance in Q3 2018 was driven by its focus on operating efficiencies, investment in network upgrades and FTTH expansion, customer service and acquisition strategies, new service developments and data monetization initiatives.
A milestone in the company’s history, Zain KSA reported net profit in Q3, 2018 of SAR 48 million, the highest quarterly net profit it has ever recorded, a marked improvement on the SAR 3 million recorded in Q3, 2017.
The impact of the drop in the mobile termination rates affected Zain KSA’s revenues by SAR 35 million. Lifting of the ban on VoIP applications on international calls also impacted the revenue.
Zain Group CEO Bader Al-Kharafi said: “These third quarter results reflect the disciplined execution and dedication of all Zain KSA employees together with the committed support offered by Zain Group resources.”
