Riyadh – Mubasher: Mobile Telecommunications Company Saudi Arabia, which operates under the brand name “Zain” on Thursday reported a net loss of SAR 250 million ($66.6 million) in Q1-16, a decline of 3% from SAR 257 million ($68.53 million) recorded in the same period last year.
An increase in revenues by 7% helped trim the telecom operator’s losses year-on-year, with revenues reaching SAR 1.765 billion, the highest record since the company’s establishment.
Meanwhile, total profit was up 24% or SAR 211 million to SAR 1.086 billion, also the highest since Zain’s establishment, on higher demand from services and products.
