{"id":53636,"date":"2022-07-18T16:44:08","date_gmt":"2022-07-18T13:44:08","guid":{"rendered":"http:\/\/www.indexeconomic.com\/?p=53636"},"modified":"2022-07-18T16:44:09","modified_gmt":"2022-07-18T13:44:09","slug":"sar-134-million-net-profit-in-q2-2022","status":"publish","type":"post","link":"https:\/\/indexeconomic.com\/?p=53636","title":{"rendered":"SAR 134 million net profit in Q2 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"> <strong>Zain KSA sees 219% rise in quarterly net profit<\/strong> <\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Zain KSA has achieved SAR 134 million in net profit during\nthe second quarter of 2022, a 219% growth compared to the same period of 2021\nand an 65% increase compared to the first quarter of 2022. These results reflect\nuninterrupted positive operational and financial performance marked by a 16% year-over-year\ngrowth in revenues during the second quarter of 2022, to SAR 2,206 million. These\nresults are mainly driven by sustained growth in 5G and B2B revenues and higher\ndemand owing to the resumption of Umrah and international travel after the relaxing\nof COVID-19 restrictions.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">This positive financial performance coincides with Zain\nKSA\u2019s expansion of its portfolio of digital products and solutions aiming to provide\nthe most innovative services and the best customer experience. Zain KSA has reaffirmed\nits commitment to being the preferred choice for all segments of customers\n(individuals, businesses, and governments) by pursuing an ambitious vertical\nexpansion plan, especially in the areas of 5G and cloud computing services with\ntheir wide range of use cases in AI, VR, AR, and the IoT.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Commenting on the financial results, Eng. Sultan bin\nAbdulaziz Al-Deghaither, CEO of Zain KSA, said: \u201cThe results of the second\nquarter of this year confirm Zain KSA\u2019s consistent growth on the financial and\noperational levels. Our innovative 5G products and services have continued to\ngrow in popularity and our integrated portfolio of business support products and\nservices has seen a noticeable surge in demand from government entities, enterprises,\nand businesses. Demand was also fueled by the resumption of Umrah after the Saudi\ngovernment, led by the Custodian of the Two Holy Mosques and His Royal Highness\nthe Crown Prince, may God protect them both, succeeded in controlling the COVID-19\npandemic and eased the precautionary measures.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">He then added, &#8220;Through our strategic partnerships with\nglobal players, we were able to transform the 5G experience in Saudi Arabia. At\nthe same time, we matched our world-class partnerships with the enabling digital\ninfrastructure required to ensure the best results. In this regard, we are connecting\nthe Middle East with the rest of the world through a system of submarine cables\nJ2M (Jeddah, Saudi Arabia to Marseille, France). Jeddah will be the cable\nlanding station for Saudi Arabia\u2019s portion of the PEACE cable system. Our aim\nis to enhance our capabilities when it comes to international infrastructure\nwhile making available to global carriers and enterprises operating in the\nKingdom a brand-new entry point in Saudi Arabia for their connectivity\nrequirements in order to serve their communication needs according to the best quality\nstandards.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Al-Deghaither continued, &#8220;In line with the goals of Saudi\nVision 2030, we believe at Zain KSA in the importance of investing in human\ncapital development, especially young national talent. This belief led us to earn\nthe &#8220;Labor Award&#8221; for job localization in the Information and\nCommunications Technology sector from the Ministry of Human Resources and\nSocial Development (HRSD). As part of our continuing efforts in this area, we\nrecently launched the Evolve program, which aims to provide workplace training\nand skill development to one hundred fresh graduates.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Zain KSA has expanded its Zain Cloud portfolio, showcasing\nsix new services and products\nduring the Saudi International\nAi &amp; Cloud Tech Expo (AiCloud). Zain Cloud had earlier obtained a class (C)\nrating, the highest cloud computing rating in Saudi Arabia. Zain KSA also\nearned the Local Content Certificate 2021, reaffirming its commitment to\nmaximizing its local spending, and was recognized as one of Forbes Middle\nEast\u2019s Top 100 Listed Companies 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zain KSA sees 219% rise in quarterly net profit Zain KSA has achieved SAR 134 million in net profit during the second quarter of 2022, a 219% growth compared to the same period of 2021 and an 65% increase compared to the first quarter of 2022. These results reflect uninterrupted positive operational and financial performance &hellip;<\/p>\n","protected":false},"author":2,"featured_media":53625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-53636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SAR 134 million net profit in Q2 2022 - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indexeconomic.com\/?p=53636\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SAR 134 million net profit in Q2 2022 - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\" \/>\n<meta property=\"og:description\" content=\"Zain KSA sees 219% rise in quarterly net profit Zain KSA has achieved SAR 134 million in net profit during the second quarter of 2022, a 219% growth compared to the same period of 2021 and an 65% increase compared to the first quarter of 2022. 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