Zain Saudi Arabia’s profits fell to 596 million riyals in 2024

The profits of the Saudi mobile telecommunications company (Zain Saudi Arabia) in 2024 decreased by 52.9% to 596 million riyals, compared to 1.267 billion riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the company made profits (including the gains of the sale and re -rental of all 8069 towering communications towers during the year 2023 AD with a total amount of 1.1 billion riyals).
The total profit increased by 614 million riyals (10.5%) to 6.5 billion riyals.
The operational expenses increased by 66 million riyals (2.5%), and expected credit losses increased by 203 million riyals.
The profits increased before the benefits, taxes, destruction and consumption in 2024 AD by 345 million riyals (11.6%) to reach 3.323 billion riyals in the fiscal year 2024 AD compared to 2023 AD (2.978 billion riyals).
Zakat decreased by 131 million riyals, given the new regulations, as Zain Saudi Arabia re -evaluated the zakat allowance, and thus reflected the additional allocate loaded in the previous periods during the year ending on December 31, 2024 m with the amount of 76 million riyals.