Financial Results : stc net profit grows 4% to SAR 8.69 bln in 9M 2021

stc net profit grows 4% to SAR 8.69 bln in 9M 2021

21/10/2021 Argaam Exclusive

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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.



Financials (M)

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 -
Earnings Per Share before unusual items (Riyals) 1.55 1.70 9.8 %
EPS (Riyal) 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.



Current Quarter Comparison (M)

Compared With The
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 -
Earnings Per Share before unusual items (Riyal) 0.55 0.55 (0.8 %)
EPS (Riyal) 0.55 0.58 5.7 %

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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