Riyadh – Mubasher: The interim financial statements of Etihad Atheeb Telecommunication Company (GO) showed a surge in the company’s loss during the first nine months of the fiscal year 2018/2019, compared to the year-ago period.
Go’s loss soared 561.7% to SAR 48.24 million from April 2018 to the end of December, against SAR 7.29 million the year before, according to a bourse statement released on Tuesday.
The company attributed the increase in its loss to the decline in operating revenue and other income.
Go suffered a net loss, after zakat and tax, standing at SAR 35.54 million in the six-month period in FY18/19 against net profits valued at SAR 25.61 million in the same half a year ago.
During the three-month period ended on 30 September 2018, GO posted a year-on-year decrease of 54.142% in net losses, after zakat and tax, to SAR 13.67 million from SAR 29.81 million.
