Saudi telecom companies saw a 69% increase in net profits for 2024, reaching SAR 28.39 billion ($7.57 billion), driven by higher revenues, a growing customer base, and operational efficiency. Stc led with a profit surge of 85.7%, while Mobily showed growth, and Zain experienced a decline due to higher costs.
Robi Axiata reported its highest-ever profit for 2024, with a 119% increase in profit to Tk703 crore. The company also proposed a 15% cash dividend to shareholders, marking its largest payout since 2020. Despite challenges, Robi continues to invest in digital infrastructure and maintain a strong 4G network.
Robi Axiata posted a record profit of Tk 7.03 billion in 2024, driven by operational efficiency and strategic investments, despite challenges such as internet blackouts and rising SIM taxes. Revenue growth was minimal, but the company declared a 15% cash dividend, marking its highest payout since 2020.
Grameenphone (GP) posted a 10% profit growth in 2024, reaching Tk 36.4 billion, and declared a record 330% cash dividend. Despite a 4.9% revenue decline due to cautious consumer spending, GP’s EBITDA rose, and the company plans continued investment in network improvements and AI technology to drive future growth.
Robi Axiata reported a 78% year-on-year increase in profit, reaching Tk 1.89 billion in Q3 2023, driven by effective cost management and reduced foreign exchange losses. Despite a nearly 3% decline in revenue to Tk 24.74 billion, the company maintained growth momentum through strategic investments.
Grameenphone experienced a modest profit growth of 1.0% in Q3 2024, reaching Tk 7.55 billion, despite challenges from rising operational expenses and political unrest. Revenue fell 3.8% to Tk 39.5 billion due to internet shutdowns, but nine-month profits grew 8.60% to Tk 29.55 billion.
