Al-Babtain net profit falls 16% to SAR 31 mln in H1 2021

18/08/2021 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported net profit after Zakat and tax of SAR 31 million in H1 2021, a decline of SAR 16%, from SAR 36.7 million in year-earlier period, driven by higher cost of sales.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	683.73	707.81	3.5 %
Gross Income	99.11	90.42	(8.8 %)
Operating Income	49.25	40.92	(16.9 %)
Net Income	36.74	31.00	(15.6 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.57	0.48	(15.6 %)

Q2 2021 net profit dropped by 31% year-on-year (YoY) to SAR 15.5 million, due to higher cost of sales, and increased marketing and distribution expenses.

On a sequential basis, net profit increased by 0.4%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	294.11	385.77	31.2 %
Gross Income	54.28	47.12	(13.2 %)
Operating Income	30.47	23.53	(22.8 %)
Net Income	22.51	15.53	(31.0 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.35	0.24	(31.0 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	322.04	385.77	19.8 %
Gross Income	43.30	47.12	8.8 %
Operating Income	17.40	23.53	35.2 %
Net Income	15.47	15.53	0.4 %
Average Shares	63.95	63.95	-
EPS (Riyals)	0.24	0.24	0.4 %

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