Mobily posts 23% growth in profit for Q3

Q3 profits rise 23%, revenues for the same period grow 33%
Mobily's third-quarter net profit has increased 23% to SR 1.51 billion.
Mobily's third-quarter net profit has increased 23% to SR 1.51 billion.

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Mobily has announced on Saturday that its third-quarter net profit has increased 23% to SR 1.51 billion, compared to SR1.22 billion in Q3 2011.

The telco’s revenues for Q3 amounted to SR6.18 billion compared to SR4.64 billion for the corresponding quarter of the previous year. This amounted to an increase of 33%.

Mobily's Chairman Abdulaziz Saleh Alsaghyir attributed Mobily’s performance to higher revenues from its business and data units, as well as the increased sales of smartphones in the region.

Operating income for the quarter also increased 23% to SR1.57 billion.

Mobily had announced in September this year, that it had signed agreements with several MVNOs, in a bid to host one of them on its network.

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