Zain Bahrain, a leading telecommunications provider in the kingdom, posted a third-quarter (Q3) net profit of BD1.62 million, an increase of 0.8% from BD1.61 million in Q3 2023. For the nine months (9M) ended September 30, 2024, Zain Bahrain net profit reached BD4.04 million, a fall of 7.2% from BD4.36 million in the same period in 2023.

 

Q3 earnings per share remained stable at 4 fils. In addition, Zain Bahrain reported revenue of BD19 million, an increase of 13.5% from BD16.74 million in Q3 2023. EBITDA for Q3 2024 increased by 11% reaching BD6.35 million from BD5.72 million in Q3 2023.

 

For 9M, earnings per share stood at 11 fils, compared to 12 fils in 2023. The company reported an increase of 6.6% in revenue reaching BD57.44 million, compared to BD53.87 million for the same period in 2023. EBITDA for the nine months ended 30 September 2024 increased by 8.8% reaching BD18.14 million, from BD16.68 million during the same period in 2023. 

 

Strong balance sheet

Zain Bahrain's balance sheet remains strong with a total equity of BD86.30 million at the end of Q3 2024, compared to BD85.66 million for the year ended December 31, 2023, an increase of 0.8%. The operator's assets as of September 30, 2024 stood at BD130.60 million, a decrease of 5.1% from BD137.63 million as of December 31, 2023.

 

Zain Bahrain Chairman, Shaikh Ahmed bin Ali Al Khalifa, said: "The solid results highlight our ongoing commitment to innovation, customer satisfaction, and overall business success, powered by our team's hard work and dedication. Zain Bahrain has excelled in voice and data service performance, as evidenced by the recently released TRA Quality of Mobile Network Experience Report 2023. This independent report showcases our commitment to excellence in speed, voice quality, social media services, and video streaming. The improved performance in these areas has undoubtedly enhanced the overall user experience for our customers, reaffirming our dedication to providing top-notch services in the telecommunications industry."

 

He continued: "Furthermore, I am delighted to announce that our Fintech company, Bede, has got off to such a promising start. We are seeing good demand for our Sharia-compliant microfinance and will continue expanding the Fintech product portfolio across the Kingdom. I would also like to share that Zain Bahrain has been recognised as one of the top 50 companies in Bahrain. 

 

“Additionally, the telco has made significant progress towards on-demand-driven power-efficient cell capacity through a new radio features trial, which helped to achieve an impressive 35% reduction in its radio site energy consumption. Another milestone is deploying the latest generation of dual-band massive MIMO (multiple input, multiple outputs) radios, making Zain Bahrain the first operator in the region to implement this advanced technology. This innovative deployment marks a significant achievement in enhancing the quality."--TradeArabia News Service