Financial Results : Al-Babtain net profit down 44% to SAR 8.7 mln in Q1 2022

Al-Babtain net profit down 44% to SAR 8.7 mln in Q1 2022

24/05/2022 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported a net profit after Zakat and tax of SAR 8.7 million for Q1 2022, declining almost 44% from SAR 15.5 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 322.04 411.52 27.8 %
Gross Income 43.30 37.12 (14.3 %)
Operating Income 17.40 11.75 (32.5 %)
Net Income 15.47 8.73 (43.6 %)
Average Shares 63.95 63.95 -
EPS (Riyals) 0.24 0.14 (43.6 %)

The profit decline is attributed to higher cost of sales due to an increase in raw materials cost, in addition to higher financing cost.

 

Sequentially, the company’s net profit rose 17.9% from SAR 7.38 million in Q4 2021 on lower selling and distribution, and, general and administrative expenses.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 839.9 million as of March 31, 2022, up 12.4% from SAR 747 million a year earlier.

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