Financial Results : Batic turns to SAR 1.2 mln loss in 9M 2020

Batic turns to SAR 1.2 mln loss in 9M 2020

09/11/2020 Argaam Exclusive

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Batic Investments and Logistics Co. reported a net loss after Zakat and tax of SAR 1.2 million for the first nine months of 2020, compared to a net profit of SAR 5.8 million a year earlier.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 347.59 394.43 13.5 %
Gross Income 47.68 50.34 5.6 %
Operating Income 14.90 9.95 (33.2 %)
Net Income 5.80 (1.15) (119.8 %)
Average Shares 584.96 584.96 -
EPS (Riyals) 0.01 0.00 (119.8 %)

The loss was attributed to an increase in the provision of expected credit loss and finance costs, along with higher non-controlling interest.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 115.72 190.75 64.8 %
Gross Income 14.65 31.04 112.0 %
Operating Income 5.18 19.35 273.3 %
Net Income 2.07 9.16 343.8 %
Average Shares 584.96 584.96 -
EPS (Riyals) 0.00 0.02 343.8 %

The company reported a net profit after Zakat and tax of SAR 9.2 million in Q3 2020, compared to a profit of SAR 2.06 million a year earlier, due to higher operating profit and an increase in other revenue.

 

On a quarterly basis, Batic turned to profits in Q3 2020 on higher other revenue.

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