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‎GO logs SAR 46.7M profit in Q1 2024/25

July 28, 2024
in Business
‎GO logs SAR 46.7M profit in Q1 2024/25
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28/07/2024
Argaam Exclusive

Etihad Atheeb Telecommunication Co. (GO) posted a net profit of SAR 46.7 million in the first quarter ended June 30, 2024, compared with SAR 52.6 million in the year-earlier period.



Current Quarter Comparison (M)

Item
Q1 2023
Q1 2024
Change‬

Revenues

206.33

310.19

50.3 %

Gross Income

70.66

88.00

24.5 %

Operating Income

35.81

51.58

44.0 %

Net Income

52.60

46.73

(11.2 %)

Average Shares

29.62

34.00

14.8 %

EPS (Riyals)

1.78

1.37

(22.6 %)

The telco recorded non-recurring financing income of SAR 21.7 million during the same quarter of the previous year due to GO’s settlement with the Communications, Space & Technology Commission (CST).

The company posted a rise in the cost of services, as well as general and administrative expenses. This is in addition to the allowance for impairment in trade receivables, Zakat and income tax expenses, an increase in revenues, and lower selling and marketing expenses.

However, operating income increased by 44% compared with a year earlier.

On a sequential basis, the first-quarter net earnings soared 157.7% from SAR 18.13 million in Q4 2023/24.

Shareholders’ equity, with no minority interest, reached SAR 605.6 million as of June 30, 2024, compared to SAR 168.7 million in the same period last year.

Etihad Atheeb Telecommunication Co. (ATHEEB TELECOM)



Current

Market Cap (M Riyal)
3,460.18

Enterprise Value (EV) (M)
3,025.18

Book Value (BV) ( Riyal)
17.81

Par Value ( Riyal)
10.00

Adjusted P/E (Last12)
22.35

P/E (TTM)
18.33

Price/book
5.71

Return on Average Assets (%) (TTM)
16.3

Return on Average Equity (%) (TTM)
48.8



Financial results (Million)



Profit Performance (Million)

Multiple Ratios (End of Period Price)

Compared With The

Period
P/E
Adjusted P/E
Price/book

Q1 2024


16.87


20.57


5.26

Business Segments (Million)

Compared With The

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Argaam EN – https://www.argaam.com/en/financial-reports/company-report/1404/2024/70?preview=true

Tags: “GobusinessProfit
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