Financial Results : GASCO posts 64% profit slump to SAR 33.4 mln in Q1 2020

GASCO posts 64% profit slump to SAR 33.4 mln in Q1 2020

04/06/2020 Argaam Exclusive

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National Gas and Industrialization Co. (GASCO) reported net profit after Zakat and tax of SAR 33.4 million for the first three months of 2020, a decline of 64% year-on-year (YoY), driven by lower revenue from investments, higher selling and marketing expenses, and increased general and administrative expenses (G&As).

On a sequential basis, GASCO swung to profit in Q1 2020, versus losses of SAR 19.5 million in Q4 2019.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 495.28 528.64 6.7 %
Gross Income 67.59 74.04 9.5 %
Operating Income 32.33 26.39 (18.4 %)
Net Income 93.17 14.68 (84.2 %)
Average Shares 75.00 75.00 -
EPS (Riyals) 1.24 0.20 (84.2 %)

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