Riyadh – Mubasher: Etihad Atheeb Telecommunication Company’s (GO) net losses after Zakat and tax fell by 61.5% on a yearly basis in the second quarter (Q2) of 2020 to reach SAR 12.27 million from SAR 31.86 million in the prior-year period.
The slump in net losses is attributed to a drop in the cost of services and all operating expenses, including depreciation and amortisation, general and administrative expenses, selling and marketing expenses, and financing costs, according to a bourse statement on Sunday.
Revenue came in at SAR 73.03 million during the April-June period in 2020, 24.8% less than SAR 97.1 million in the same period in 2019.
