Financial Results : stc net profit up 2% to SAR 5.773 bln in H1 2021

stc net profit up 2% to SAR 5.773 bln in H1 2021

02/08/2021 Argaam Exclusive

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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.



Financials (M)

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



Current Quarter Comparison (M)

Compared With The
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 %

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