Al-Babtain posts 18% profit rise to SAR 60.4 mln in 2022; Q4 at SAR 21.9 mln

30/03/2023 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported an 18% jump in 2022 net profit to SAR 60.4 million, from SAR 51 million in 2021.

Financials (M)

Item	2021	2022	Change‬
Revenues	1,502.12	2,197.06	46.3 %
Gross Income	194.79	268.60	37.9 %
Operating Income	94.17	137.26	45.8 %
Net Income	51.03	52.63	3.1 %
Average Shares	63.95	63.95	-
EPS (Riyals)	0.80	0.82	3.1 %

The fourth-quarter net profit more than doubled to SAR 21.9 million, from SAR 7.3 million in Q4 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	452.54	686.77	51.8 %
Gross Income	64.69	124.67	92.7 %
Operating Income	38.51	83.03	115.6 %
Net Income	7.38	14.08	90.9 %
Average Shares	63.95	63.95	-
EPS (Riyals)	0.12	0.22	90.9 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	740.17	686.77	(7.2 %)
Gross Income	60.39	124.67	106.4 %
Operating Income	32.65	83.03	154.3 %
Net Income	18.39	14.08	(23.4 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.29	0.22	(23.4 %)

Net profit increased by 18.8% from SAR 18.3 million in Q3 2022.

Shareholders’ equity, excluding minority interest, rose to SAR 851.1 million as of Dec. 31, 2022, from SAR 835.2 million a year earlier.

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