Saudi telecom operator Mobily profits up 41% in Q1 on higher revenues

Mobily recorded a net profit of SR319 million ($85 million), up from SR226 million for the same period a year earlier. (Shutterstock)
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Updated 21 April 2022
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Saudi telecom operator Mobily profits up 41% in Q1 on higher revenues

RIYADH: Saudi telecom operator Etihad Etisalat Co., known as Mobily, saw its profits soar by 41 percent in the first quarter of 2022.

Mobily recorded a net profit of SR319 million ($85 million), up from SR226 million for the same period a year earlier, it said in a bourse statement on Tadawul.

Revenues totaled SR3.8 billion, an increase of 5.8 percent from SR3.6 billion recorded in the same quarter a year earlier.

With solid subscriber growth, Mobily's revenue was primarily driven by growth in the business, consumer, and wholesale segments.

Due to revenue growth, gross profit increased by 8 percent to reach SR2.2 million.

Among the major drivers of the strong results were growth in the business and consumer segments, as well as an increase in subscriptions.


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.