Al-Babtain Power and Telecommunication Co. reported net profit after Zakat and tax of SAR 36.7 million for the first half of 2020, a decline of 10% year-on-year (YoY), driven by higher cost of finance, increased Zakat expenses and lower other revenue.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 643.94 | 683.73 | 6.2 % |
| Gross Income | 97.00 | 99.11 | 2.2 % |
| Operating Income | 30.38 | 49.25 | 62.1 % |
| Net Income | 40.66 | 36.74 | (9.6 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.64 | 0.57 | (9.6 %) |
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 358.00 | 294.11 | (17.8 %) |
| Gross Income | 57.50 | 54.28 | (5.6 %) |
| Operating Income | 24.05 | 30.47 | 26.7 % |
| Net Income | 20.84 | 22.51 | 8.0 % |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.33 | 0.35 | 8.0 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 389.63 | 294.11 | (24.5 %) |
| Gross Income | 44.82 | 54.28 | 21.1 % |
| Operating Income | 18.78 | 30.47 | 62.2 % |
| Net Income | 14.23 | 22.51 | 58.2 % |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.22 | 0.35 | 58.2 % |
Net profit after Zakat and tax for the second quarter rose 8% YoY to SAR 22.5 million, due to lower marketing, general and administrative expenses and decreased Zakat expenses.
On a quarter-on-quarter basis, the profit for the current quarter increased by 58.45%.
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