(MENAFN) Zain Saudi, the third-largest telecoms operator in the country, reported a narrowing loss for the third quarter on Sunday, Saudi Gazette reported.
The company posted a net loss of USD112 million in the three months to Sept. 30, compared with a net loss of USD131.4 million a year ago.
It also agreed on a deal with the government in June that would allow it to defer payment of license-related fees, which could total around USD1.49 billion over seven years, and appointed industry veteran Hassan Kabbani as chief executive in September.
Quarterly revenue rose by seven percent to USD418 million from USD407 million a year ago. The company attributed its better performance to the 24 percent growth of its customer base and a 37 percent jump in data traffic.
Zain Saudi added in its statement that it had reduced its operating expenses by 22 percent compared to a year ago.
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