Financial Results : Al-Babtain posts 28% profit slump to SAR 14.2 mln in Q1 2020

Al-Babtain posts 28% profit slump to SAR 14.2 mln in Q1 2020

14/06/2020 Argaam Exclusive

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Al-Babtain Power & Telecommunication Co. (Al-Babtain) reported net profit after Zakat and tax of SAR 14.2 million, 28% down year-on-year (YoY) for the first quarter of 2020, driven by lower profit margins, as selling prices were squeezed despite lower general and administrative expenses (G&As) and higher sales volumes.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 285.94 389.63 36.3 %
Gross Income 39.50 44.82 13.5 %
Operating Income 6.32 18.78 197.0 %
Net Income 19.82 14.23 (28.2 %)
Average Shares 63.95 63.95 -
EPS (Riyals) 0.31 0.22 (28.2 %)

On a sequential basis, net profit declined 41.8%, due to a slump in profit margins.

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