Al-Babtain Power and Telecommunication Co. posted a net profit after Zakat and tax of SAR 43.7 million for the nine-month period ended Sept. 30, 2021, a drop of 16% from SAR 52.1 million in the year-earlier period.
The lower profit came due to an increase in the cost of sales ratio from 85.9% in the corresponding period of 2020 to 87.6% during the current period, as well as higher general and administrative expenses (G&A), Zakat charges and estimated income tax.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 1,036.79 | 1,049.58 | 1.2 % |
| Gross Income | 145.78 | 130.10 | (10.8 %) |
| Operating Income | 71.96 | 55.65 | (22.7 %) |
| Net Income | 52.05 | 43.65 | (16.1 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.81 | 0.68 | (16.1 %) |
In Q3 2021, net profit after Zakat and tax dropped 17% to SAR 12.7 million from SAR 15.3 million a year earlier, hit by higher cost of sales ratio and G&A.
On a sequential basis, Q3 net profit decreased by 18.5% from SAR 15.5 million in the second quarter of the year.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 353.06 | 341.77 | (3.2 %) |
| Gross Income | 46.67 | 39.67 | (15.0 %) |
| Operating Income | 22.71 | 14.73 | (35.1 %) |
| Net Income | 15.31 | 12.65 | (17.4 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.24 | 0.20 | (17.4 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 385.77 | 341.77 | (11.4 %) |
| Gross Income | 47.12 | 39.67 | (15.8 %) |
| Operating Income | 23.53 | 14.73 | (37.4 %) |
| Net Income | 15.53 | 12.65 | (18.5 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.24 | 0.20 | (18.5 %) |
Shareholders’ equity, after minority interest, reached SAR 772.8 million in the nine-month period, from SAR 776.5 million a year earlier.
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