stc reported a net profit after Zakat and tax of SAR 8.698 billion for the first nine months of 2021, a rise of 4% from SAR 8.402 billion in the year-ago period.
The company attributed the profit growth to higher revenue, and a decline of SAR 627 million year-on-year (YoY) in operating expenses.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 43,736.51 | 47,329.62 | 8.2 % |
| Gross Income | 25,507.83 | 25,278.18 | (0.9 %) |
| Operating Income | 9,525.80 | 9,923.60 | 4.2 % |
| Net Income | 8,402.50 | 8,697.69 | 3.5 % |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 1.68 | 1.74 | 3.5 % |
The telecom operator reported a net profit of SAR 2.924 billion for Q3 2021, a 6% rise compared to SAR 2.766 billion in the same quarter last year, driven by a rise in revenue and lower operating expenses.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 14,881.43 | 15,735.35 | 5.7 % |
| Gross Income | 8,970.96 | 8,368.88 | (6.7 %) |
| Operating Income | 3,459.60 | 3,191.71 | (7.7 %) |
| Net Income | 2,765.54 | 2,924.39 | 5.7 % |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 0.55 | 0.58 | 5.7 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 15,898.77 | 15,735.35 | (1.0 %) |
| Gross Income | 8,352.20 | 8,368.88 | 0.2 % |
| Operating Income | 3,250.29 | 3,191.71 | (1.8 %) |
| Net Income | 2,821.21 | 2,924.39 | 3.7 % |
| Average Shares | 5,000.00 | 5,000.00 | - |
| EPS (Riyals) | 0.56 | 0.58 | 3.7 % |
On a quarter-on-quarter basis, Q3 net profit rose 3.65% from SAR 2.821 billion.
Shareholders’ equity, after minority interest, rose 7.6% to SAR 68.50 billion as of Sept. 30, 2021, from SAR 63.66 billion a year earlier.
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