Mobily reports 4.5% rise in Q1 earnings

April 23, 2014 1:02 pm

Saudi Arabia’s second-biggest telecoms operator, Etihad Etisalat (Mobily) has reported a 4.5% increase in first-quarter net profit, as depreciation expenses rose, Reuters has reported. The affiliate of the UAE-based Etisalat made a first-quarter net income of SR1.4bn ($373.3m), up from SR1.34bn in the prior-year period. Mobily said higher depreciation expenses, a result of increased capital expenditure, weighed on its results, but gave no further details.