Financial Results : Al-Babtain profit leaps 63% to SAR 14.2 mln in Q1 2023

Al-Babtain profit leaps 63% to SAR 14.2 mln in Q1 2023

22/05/2023 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported a net profit of SAR 14.2 million for Q1 2023, leaping 63% from SAR 8.7 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 411.52 639.11 55.3 %
Gross Income 37.12 64.64 74.1 %
Operating Income 11.75 32.28 174.8 %
Net Income 8.73 14.20 62.7 %
Average Shares 63.95 63.95 -
EPS (Riyals) 0.14 0.22 62.7 %

This was due to the increase in sales by 55% year-on-year (YoY) and improved selling prices.

 

Sequentially, the company’s Q1 2023 profit fell 35.1% from SAR 21.89 million, due to lower sales.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 847.6 million as of March 31, 2023, up from SAR 839.9 million a year earlier.

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