Al-Babtain net profit down 12% to SAR 38.6 mln in 9M 2022, Q3 at SAR 18.4 mln

10/11/2022 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported a net profit after Zakat and tax of SAR 38.6 million in the first nine months of 2022, a 12% decline compared to SAR 43.7 million in the year-ago period

The profit drop was attributed to higher selling and distribution expenses, finance cost and foreign currency revaluation differences.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	1,049.58	1,510.29	43.9 %
Gross Income	130.10	143.93	10.6 %
Operating Income	55.65	107.77	93.6 %
Net Income	43.65	38.55	(11.7 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.68	0.60	(11.7 %)

In Q3 2022, the net profit after Zakat and tax saw a 45% jump to SAR 18.4 million, from SAR 12.65 million in the year before, on higher sales of all segments.

The company’s net profit rose 61% from SAR 11.43 million in Q2 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	341.77	740.17	116.6 %
Gross Income	39.67	60.39	52.2 %
Operating Income	14.73	32.65	121.6 %
Net Income	12.65	18.39	45.3 %
Average Shares	63.95	63.95	-
EPS (Riyals)	0.20	0.29	45.3 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	358.61	740.17	106.4 %
Gross Income	46.42	60.39	30.1 %
Operating Income	9.83	32.65	232.0 %
Net Income	11.43	18.39	60.9 %
Average Shares	63.95	63.95	-
EPS (Riyals)	0.18	0.29	60.9 %

Shareholders’ equity, no minority interest, grew to SAR 841.37 million as of Sept. 30, 2022, from SAR 835.16 million in the year-earlier period.

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