a Wiggle (VBBR3The fuel distributor said on Monday that the company recorded a net profit of 1.26 billion riyals in the third quarter, reversing a loss of 61 million riyals in the same period a year earlier.
Analysts, on average, expected a net profit of 881.1 million riyals, according to LSEG data.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) amounted to SAR 2.33 billion in the quarter, an increase of 154.7% year-on-year.
Tim: Profits are jumping
a Tim (Times3On Monday, it announced normalized net profits of 724 million riyals in the third quarter, an increase of 53% compared to the same period of the previous year, with strong performance on the financial, operational and commercial fronts.
Net accounting profit amounted to 716 million riyals in the quarter, which represents an increase of 59.9% compared to the same period in 2022.
TIM, controlled by European Telecom Italia, also recorded normalized earnings before interest, taxes, depreciation and amortization (EBITDA) of 3 billion reais in the months from July to September, up 11.6% on the same period last year, with an EBIT margin Depreciation and amortization (EBITDA) is 3 billion riyals. 49.7%, or 1.7 percentage points higher than the same period in 2022.
Analysts, on average, expected a net profit of 564.7 million riyals for the telecom operator, and EBITDA of 2.94 billion riyals, according to data from LSEG.
The telecom operator recorded normalized net revenues of R$6.1 billion, up 7.9% year-on-year, in a performance driven by positive results in its main mobile service lines, broadband and TIM UltraFibra products, the company said in its report.
TIM Brasil’s mobile service revenue in the July-September period rose 7.7% year-on-year, to 5.55 billion reais, mainly due to the revenue performance of the postpaid plan, while the fixed plan advanced 4.5%, to 325 million reais.
In the quarter, TIM added 61.3 million mobile users (-11% y/y), of which 34.1 million were prepaid users and 27.2 million were postpaid, while TIM UltraFibra’s customer base (+11.6% y/y) reached 791 One thousand users.
TIM said that normal operating costs and expenses amounted to 3 billion riyals in the third quarter, a growth of 4.5% compared to the same stage in 2022, which reflects “the effective implementation of the company’s cost control.”
Year-to-date through September, the increase in normalized costs and expenses was a steeper 7.9% year-on-year, impacted by higher interconnection expenses and higher costs of goods sold, the company said.
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