RIYADH: Profits of Zain KSA, formally known as Mobile Telecommunication Co. Saudi Arabia, reached a record high of SR550 million ($146.7 million) in 2022.
The telecom operator’s profit surged 157 percent from SR214 million in the same period a year earlier on the back of higher revenue, according to a filing to the Saudi Exchange.
Its revenue rose from SR7.9 billion in 2021 to SR9 billion in 2022, driven by growth in business-to-business, 5G and other revenue streams.
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