Riyadh – Mubasher: The net profits after Zakat and tax of Arabian Internet and Communication Services Company (solutions) rose by 7.42% to SAR 304 million in the first quarter (Q1) of 2023.
The generated net profits were compared with SAR 283 million during the January-March 2022 period, according to the initial consolidated income statements.
Meanwhile, the group posted revenues amounting to SAR 2.67 billion in Q1-23, an annual surge of 19.30% from SAR 2.24 billion.
Earnings per share (EPS) grew to SAR 2.55 as of 31 March 2023 from SAR 2.38 in the year-ago period.
On a quarterly basis, the Q1-23 net profits after Zakat and tax jumped by 54.31% from SAR 197 million in Q4-22, while the revenues climbed by 9.76% from SAR 2.43 billion.
During the January-December 2022 period, the Saudi firm logged net profits after Zakat and tax valued at SAR 1.05 billion, up 26.53% from SAR 833 million in 2021.
