Money and business
The quarterly profits of “Saudi torque” increased to 7.7 million riyals
The profits of the Saudi Telecom Company for Communications and Information Technology increased by 32.6% in the second quarter of the period ending December 31, 2024.
According to the company’s statement on Saudi Arabia’s circulation, the company made profits of 7.7 million riyals, in the second quarter, compared to 5.8 million riyals in the same quarter of last year.
This increase is mainly due to: an increase in the total profit by 5.63 million riyals as a result of the increase in revenues, and an increase in the share of the results of investments in associate companies by 0.6 million riyals.
The reasons included: an increase in other revenues by 1.41 million riyals, and a decrease in financing costs by 0.04 million riyals.
This came despite: an increase in operational expenses by 5.65 million riyals, and an increase in zakat expenses and income tax by 0.15 million riyals.
The company achieved a net profit of 7.68 million riyals during the current quarter, a decrease of 2.7 million riyals (26%) compared to the previous quarter.
This is mainly due to: an increase in other revenues by 0.87 million riyals, a decrease in financing costs by 0.31 million riyals, and a decrease in zakat expenses and income tax by 0.06 million riyals.
This came despite: a decrease in the total profit by 2.27 million riyals, an increase in operational expenses by 1.33 million riyals, and a decrease in the share of investment results in associate companies by 0.34 million riyals,
The company achieved a net profit of 18.05 million riyals during the current period (9 months), an increase of 4.02 million riyals (28.68%) compared to the same period last year.
This is mainly due to an increase in the total profit by 9.52 million riyals as a result of the increase in revenues, an increase in the share of investment results in associate companies by 1.55 million riyals, and an increase in other revenues by 1.58 million riyals.
This came despite: an increase in operational expenses by 7.81 million riyals, an increase in financing costs by 0.51 million riyals, and an increase in zakat expenses and income tax by 0.3 million riyals.
According to the company’s statement on Saudi Arabia’s circulation, the company made profits of 7.7 million riyals, in the second quarter, compared to 5.8 million riyals in the same quarter of last year.
This increase is mainly due to: an increase in the total profit by 5.63 million riyals as a result of the increase in revenues, and an increase in the share of the results of investments in associate companies by 0.6 million riyals.
The reasons included: an increase in other revenues by 1.41 million riyals, and a decrease in financing costs by 0.04 million riyals.
This came despite: an increase in operational expenses by 5.65 million riyals, and an increase in zakat expenses and income tax by 0.15 million riyals.
The company achieved a net profit of 7.68 million riyals during the current quarter, a decrease of 2.7 million riyals (26%) compared to the previous quarter.
This is mainly due to: an increase in other revenues by 0.87 million riyals, a decrease in financing costs by 0.31 million riyals, and a decrease in zakat expenses and income tax by 0.06 million riyals.
This came despite: a decrease in the total profit by 2.27 million riyals, an increase in operational expenses by 1.33 million riyals, and a decrease in the share of investment results in associate companies by 0.34 million riyals,
The company achieved a net profit of 18.05 million riyals during the current period (9 months), an increase of 4.02 million riyals (28.68%) compared to the same period last year.
This is mainly due to an increase in the total profit by 9.52 million riyals as a result of the increase in revenues, an increase in the share of investment results in associate companies by 1.55 million riyals, and an increase in other revenues by 1.58 million riyals.
This came despite: an increase in operational expenses by 7.81 million riyals, an increase in financing costs by 0.51 million riyals, and an increase in zakat expenses and income tax by 0.3 million riyals.
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