Zain Bahrain Q2 profit rises 3.2 %

TDT | Manama                 

The Daily Tribune – www.newsofbahrain.com

Zain Bahrain, a telecommunications industry innovator in Bahrain, yesterday reported a net profit that grew 3.2% in the second quarter of 2023, as revenues rose thanks to a 12.5% growth in customers.

The company said it added 127 thousand customers to serve a total of 1.14 million, a 12.5% Year on Year growth.

Quarterly results

Second quarter net profit rose 3.2% to BD 1.32 m from BD 1.28 m in the same-quarter a year ago.

Earnings per share remained stable at 4 fils. EBITDA increased by 1.7% reaching BD 5.44 m compared to BD 5.35 m in Q2 2022. Revenue increased 15.7% to BD 18.95 m from BD 16.39 m in Q2 2022.

Data Revenue was up by 8.6% compared to Q2 2022.

H1 Results

For the first six months, net profit was BD 2.75 m, a 3.6% decrease from BD 2.85 m in the same period as in 2022. Earnings per share were breakeven at 8 fils.

Revenue reached BD 37.12 m, an increase of 10.5% compared to BD 33.59 m for the same period in 2022. Data Revenue increased 7.0% compared to the same period in 2022. Commenting, Zain Bahrain Chairman, Shaikh Ahmed bin Ali Al Khalifa, said, "Our second quarter results demonstrate the resilience and the success of Zain Bahrain as we continue the expansion of our network, including in seven new areas in Bahrain, allowing residents to enjoy the best 5G and 4G mobile experience."

He added, "Our investments in renewable energy and green technologies have reduced our environmental impact and resulted in substantial cost savings, contributing to our sustainable business practices."