Mobily's Q1 profit rises on better revenue, cost management: CFO

Etihad Etisalat Co.’s (Mobily) Q1 2019 profitability was backed by revenue growth and cost management, Kais Ben Hamida, the Chief Financial Officer (CFO) told CNBC Arabia on Sunday.

The quarterly revenue, bolstered by an increased subscriber base, maintained growth for the sixth quarter straight.

“The revenue growth came in line with the strategy adopted by Mobily since 2017,” Ben Hamida said.

The telecom operator continued to add new subscribers in Q1 2019, reported higher revenue from FTTH active base and wholesale services.

In addition, the telco’s business unit has successfully implemented several major government projects.

The business segment contributed almost 11 percent to total revenue in Q1, Ben Hamida added.

Mobily reported a net profit after zakat and tax of SAR 67.3 million for the first quarter of 2019, compared to a net loss of SAR 93.4 million a year earlier, Argaam reported.