Financial Results : Batic turns to loss of SAR 3.1 mln in Q1 2020

Batic turns to loss of SAR 3.1 mln in Q1 2020

18/06/2020 Argaam Exclusive

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Batic Investments and Logistics Co. reported a net loss after Zakat and tax of SAR 3.1 million for the first quarter of 2020, compared to a net profit of SAR 1.9 million in the same period last year.

 

The net loss was attributed to a 7.3% decline in revenues, as well as higher provision of expected credit losses and finance costs.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 114.09 105.67 (7.4 %)
Gross Income 17.23 14.36 (16.7 %)
Operating Income 4.66 (2.61) (156.0 %)
Net Income 1.94 (3.11) (260.7 %)
Average Shares 584.96 584.96 -
EPS (Riyals) 0.00 (0.01) (260.7 %)

When compared to Q4 2019, the company turned to losses due increased credit losses provision and finance costs.

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