Zain Group net income tumbles 27% year-on-year in Q1

Zain Group today reported that consolidated revenues in Q1 2015 to March 31 amounted to US$942 million (KD 279 million), down 14.6 per cent year-on-year in local KD currency. EBITDA for the quarter amounted to KD 117 million, down 11.5 per cent year-on-year, while the company’s EBITDA margin stood at 42 per cent.

Net income for the quarter amounted to KD 41 million, down 27 per cent year-on-year, while the number of subscribers was flat at 46.1 million from the same period last year, despite Zain stating it had added 1.8 million gross customers over the 12 months.