Al-Babtain posts SAR 98.3 mln profit in 9M 2023, earns SAR 43.4 mln in Q3

09/11/2023 Argaam Exclusive

View other reports

Al-Babtain Power and Telecommunication Co. reported an over twofold rise in net profit to SAR 98.3 million in the first nine months of 2023 from SAR 38.5 million a year earlier.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	1,510.29	1,939.40	28.4 %
Gross Income	143.93	269.70	87.4 %
Operating Income	107.77	207.60	92.6 %
Net Income	38.55	98.25	154.9 %
Average Shares	63.95	63.95	-
EPS (Riyals)	0.60	1.54	154.9 %

The profit growth was propelled by a 28% year-on-year (YoY) rise in sales. Profit margins expanded by 3.9%, raising operating profit by 95% YoY during the current nine-month period.

This was, however, offset by increased finance costs.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	740.17	766.70	3.6 %
Gross Income	60.39	108.00	78.8 %
Operating Income	32.65	92.30	182.7 %
Net Income	18.39	43.37	135.9 %
Average Shares	63.95	63.95	-
EPS (Riyals)	0.29	0.68	135.9 %

Item	Q2 2023	Q3 2023	Change‬
Revenues	533.59	766.70	43.7 %
Gross Income	97.01	108.00	11.3 %
Operating Income	59.66	92.30	54.7 %
Net Income	40.68	43.37	6.6 %
Average Shares	63.95	63.95	-
EPS (Riyals)	0.64	0.68	6.6 %

In Q3 2023, net earnings soared to SAR 43.4 million from SAR 18.4 million in the prior-year period, thanks to better sales and a YoY decline in the cost of goods sold.

Al-Babtain’s net profit grew 6.7% from SAR 40.7 million in Q2 2023, lifted by improved sales and lower general and administrative expenses.

Total shareholders’ equity, no minority interest, increased to SAR 921.58 million as of Sept. 30, 2023, from SAR 841.37 million in the prior-year period.

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×