The share of the Saudi Telecom Company “STC” listed in the Saudi stock market “Tadawul” by 0.21% at the beginning of the Saudi market transactions today, Sunday, to trade at the price of 48.10 riyals per share, after achieving 3.65 billion riyals in the first quarter.
Trading on the share of the Saudi Telecom Company “STC” at that time came at 2.23 million shares with a value of 107.34 million riyals.
The highest price for the share at that time was at 48.25 riyals per share during the session, while the lowest price for the share was at 47.95 riyals per share.
The shares of the Saudi Telecom Company recorded a remarkable increase after announcing its financial results for the first quarter of 2025, which showed growth in net profits by 11.05% compared to the same period in the previous year.
The company stated that the net profit during the period amounted to 3.65 billion riyals, compared to 3.29 billion riyals, which was achieved in the first quarter of 2024, and this growth attributed the increase in revenues of 302 million riyals, in addition to the decline in the cost of revenues by 133 million riyals, which reflected positively on the total profit, which increased by 435 million riyals.
It also contributed to the opposite of the zakat customer for previous years to reducing zakat and income tax, as it reached 311 million riyals, compared to 2330 million riyals for the comparison period.
Despite the annual improvement, profits fell on a quarterly basis by 72.88% compared to the last quarter of 2024, which witnessed exceptional profits of 13.46 billion riyals, supported by the gains of STC for controlling quotes in the “Tawal” and “digital structures for investment”, which then contributed to a net profit of 13.17 billion riyals of unusual operations.
The data also showed the increase in revenues by 1.6% during the first quarter of this year, to reach 19.21 billion riyals, compared to 18.91 billion riyals in the same period last year.
