Edition:
India

Zain Saudi Posts Q2 Profit


Sunday, 14 Jul 2019 

July 14 (Reuters) - MOBILE TELECOMMUNICATIONS COMPANY SAUDI ARABIA <7030.SE>::Q2 NET PROFIT AFTER ZAKAT AND TAX 130 MILLION RIYALS VERSUS LOSS OF 38 MILLION RIYALS YEAR AGO.Q2 REVENUE 2.06 BILLION RIYALS VERSUS 1.85 BILLION RIYALS YEAR AGO.IN Q2 DEMAND INCREASED FOR COMPANY’S PRODUCTS AND SERVICES.IN Q2 CITC ROYALTY FEES DECREASED FROM 15% TO 10%.IN Q2 CO SAW RELEASE OF CERTAIN PROVISION FROM SETTLEMENT SIGNED WITH MOF, MCIT AND CITC.IN Q2 DEPRECIATION AND AMORTIZATION INCREASED BY SAR 134 MILLION.IN Q2 FINANCE CHARGES INCREASED BY SAR 29 MILLION MAINLY DUE TO ADOPTION OF IFRS 16.TOTAL CAPEX INVESTMENT FOR FIRST SIX-MONTH OF 2019 IS SAR 1,065 MILLION. 

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