Etihad Etisalat (Mobily), Saudi Arabia’s second largest telecoms operator by subscribers, has announced its financial results for the third quarter ended 30 September 2013, reporting 8% growth in revenues to SAR6.445 billion (USD1.719 billion) from SAR5.972 billion in 3Q12. According to a press release on the Saudi Stock Exchange’s (Tadawul’s) website, the growth was attributed to an increase in revenues generated by ‘the business sector, carriers and wholesale services’. Mobily, an affiliate of the United Arab Emirates-based Etisalat, also posted net profit of SAR 1.687 billion in the three months to end-September 2013, an 11.65% improvement on SAR1.511 billion reported in 3Q12. Mobily also saw an improvement in its EBITDA margin, to 38% in 3Q13, compared to 36% in the year-ago period.
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