The quarterly profits of “Saudi torque” increased to 8.8 million riyals

The company, “Saudi Arabia, Telecom Information and Information Technology,” achieved a net profit of 8.8 million riyals during the current quarter, an increase of 2.82 million riyals (47.18%) compared to the same quarter of the previous year, which witnessed profits of 5.97 million riyals.
“Azem”, in a statement to “Tadawal Saudi Arabia”, today, Monday, attributed the increase in net profit to the increase in the total profit by 4.27 million riyals as a result of the increase in revenues and the increase in other revenues by 1.10 million riyals.
This rise comes despite the increase of each of the operating expenses by 2.15 million riyals, and the cost of financing
By 0.25 million riyals, zakat expenses and income tax by 0.13 million riyals.
In general, “torque” revenues increased by 17.90% to 64.47 million riyals during the current quarter compared to the same quarter of the previous year, mainly due to entering new projects and achieving more revenues from existing projects.