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Saudi Mobily Q1 profit up 21pc

Riyadh, April 16, 2012

Saudi Arabia's Etihad Etisalat  (Mobily) on Monday reported a 21 percent rise in first-quarter net profit, just short of analysts' estimates.

Mobily, an affiliate of the UAE's Etisalat, made a profit of 1.207 billion riyals ($321.84 million) in the three months to March 31, up from 998 million riyals in the year-earlier period, the company said in a statement on the bourse website.

Analysts polled by Reuters on average forecast Mobily would make a quarterly profit of 1.3 billion riyals. - Reuters

Tags: Etisalat | Saudi | Mobily |

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