Riyadh – Mubasher: Etihad Atheeb Telecommunication Company (GO) incurred net losses after Zakat and tax worth SAR 9.67 million during the third quarter (Q3) of 2021.
This marked a year-on-year (YoY) increase of 19.6% from SAR 12.03 million in Q3-20, according to the initial financial results on Tuesday.
Revenues grew by 19.3% YoY to SAR 80.85 million in Q3-21 from SAR 67.77 million, backing the decline in the quarterly losses.
During the first nine months of 2021, GO suffered net losses standing at SAR 21.79 million, down 10% YoY from SAR 24.3 million.
The loss per share went down to SAR 0.95 at the end of September this year from SAR 1.06 in the same period in 2020.
Revenues surged by 10.66% YoY to SAR 155.81 million in January-September 2021 from SAR 140.8 million.
GO’s accumulated losses at the end of September 2021 totalled SAR 138.58 million, representing 60.64% of the SAR 228.53 million capital.
