STC reports 60% rise in Q1 net profit

19 Apr 2012

Saudi Telecom Company (STC) has reported a 60% year-on-year increase in net profits in its first quarter to 31 March 2012, to SAR2.52 billion (USD671 million). Consolidated revenues were up 12% at SAR14.68 billion, with the operator claiming growth was witnessed across all of its businesses, with particularly strong performances in the domestic mobile and fixed broadband sectors. Revenues from mobile broadband services were up 145% year-on-year, STC said, with the overall mobile customer base increasing 14% in the twelve months to end-March 2012.

Saudi Arabia, Saudi Telecom Company (stc)