Al Babtain net profit drops 15% to SAR 52.1 mln in 9M 2020

09/11/2020 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported net profit after Zakat and tax of SAR 52.1 million for the first nine months of 2020, a decline of 15% year-on-year (YoY), due to lower sales and other revenue, higher Zakat expenses and income tax estimate.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	1,081.51	1,036.79	(4.1 %)
Gross Income	159.64	145.78	(8.7 %)
Operating Income	59.69	71.96	20.6 %
Net Income	61.61	52.05	(15.5 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.96	0.81	(15.5 %)

Net profit after Zakat and tax for the third quarter fell by 27% YoY to SAR 15.3 million, due to lower sales, along with higher Zakat expenses and income tax estimate.

On a quarter-on-quarter basis, Q3 2020 net profit plunged 25.6% on an increase in the cost of sales, higher Zakat charges, income tax estimate, and marketing expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	437.57	353.06	(19.3 %)
Gross Income	62.64	46.67	(25.5 %)
Operating Income	29.31	22.71	(22.5 %)
Net Income	20.95	15.31	(26.9 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.33	0.24	(26.9 %)

Item	Q2 2020	Q3 2020	Change‬
Revenues	294.11	353.06	20.0 %
Gross Income	54.28	46.67	(14.0 %)
Operating Income	30.47	22.71	(25.5 %)
Net Income	22.51	15.31	(32.0 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.35	0.24	(32.0 %)

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