stc reported a net profit after Zakat and tax of SAR 5.773 billion for the first half of 2021, a rise of 2% from SAR 5.637 billion in the year-ago period.
The company attributed the profit growth to higher revenue, along with a decline in operating expenses amid lower general and administrative expenses and selling and marketing expenses.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 28,855.09 | 31,594.27 | 9.5 % |
| Gross Income | 16,536.87 | 16,909.30 | 2.3 % |
| Operating Income | 6,066.20 | 6,731.89 | 11.0 % |
| Net Income | 5,636.96 | 5,773.30 | 2.4 % |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 1.13 | 1.15 | 2.4 % |
The telecom operator reported a net profit of SAR 2.821 billion for Q2 2021, a 4% increase compared to SAR 2.724 billion in the same quarter last year.
On sequential basis, Q2 net profit fell 4.4% on higher cost of revenue and higher operating expenses
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 14,920.23 | 15,898.77 | 6.6 % |
| Gross Income | 8,340.99 | 8,352.20 | 0.1 % |
| Operating Income | 3,062.17 | 3,250.29 | 6.1 % |
| Net Income | 2,724.22 | 2,821.21 | 3.6 % |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 0.54 | 0.56 | 3.6 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 15,695.50 | 15,898.77 | 1.3 % |
| Gross Income | 8,557.10 | 8,352.20 | (2.4 %) |
| Operating Income | 3,481.61 | 3,250.29 | (6.6 %) |
| Net Income | 2,952.09 | 2,821.21 | (4.4 %) |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 0.59 | 0.56 | (4.4 %) |
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