stc net profit up 3% to SAR 3.035 bln in Q1 2022

28/04/2022 Argaam Exclusive

Saudi telecom provider stc reported a net profit after Zakat and tax of SAR 3.035 billion for the first quarter of 2022, up 3% from SAR 2.952 billion in the year-ago period.

Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 15,695.50 16,919.37 7.8 %
Gross Income 8,557.10 9,150.40 6.9 %
Operating Income 3,481.61 3,823.77 9.8 %
Net Income 2,952.09 3,035.10 2.8 %
Average Shares 5,000.00 5,000.00 -
EPS (Riyals) 0.59 0.61 2.8 %

The profit growth was driven by a revenue increase of SAR 1.296 billion as well as a decline in Zakat and income tax by SAR 59 million.

 

This was despite a rise of SAR 251 million in operating expenses.

 

The first-quarter net profit rose 16.1% quarter-on-quarter from SAR 2.614 billion.

 

Shareholders’ equity, excluding minority interest, rose by 8.1% to SAR 70.367 billion by the end of Q1 2022, from SAR 65.066 billion in the prior-year period.

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Share Price

Saudi Telecom Co.
42.25
(1.00) (2.31 %)

Saudi Telecom Co. (STC)

Financial Ratios
Current
Market Cap (M Riyal) 211,250.00
Enterprise Value (EV) (M) 198,207.68
Shares Outstanding ((M)) 5,000.00
EPS ( Riyal) (TTM) 2.45
Book Value (BV) ( Riyal) 14.93
Par Value 10.00
Adjusted P/E (Last12) 17.80
P/E (TTM) 17.25
Price/book 2.83
Return on Average Assets (%) (TTM) 9.1
Return on Average Equity (%) (TTM) 16.9
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