Riyadh – Mubasher: Etihad Etisalat “Mobily” on Tuesday reported turning to profit with SAR 17 million ($4.53 million) in the first quarter of 2016 against a net loss of SAR 45 million ($12 million) in the same period in 2015.
The telecom operator noted that an improvement in profit margin before EBITDA, reaching SAR 184 million, along with efforts to improve operational efficiency have allowed the company to turn profitable during the three-month period.
It added that a rise in financing expenses and depreciation expenses to SAR 54 million and SAR 95 million, respectively, trimmed the improved performance and results.
