Riyadh – Mubasher: Saudi Telecom Company’s (STC) profits rose 5.42% in the first quarter of 2017.
Net profits reached SAR 2.53 billion in Q1-17, compared to SAR 2.4 billion in the year-ago period.
The year-on-year increase was mainly attributed to higher total revenues, according to a bourse filing on Thursday.
Operating profit fell to SAR 252 million, as a result of higher operating expenses of SAR 210 million in the quarter.
Revenues from services amounted to SAR 12.83 billion compared to SAR 13.23 billion for the corresponding period last year, with a 3% decrease.
