Financial Results : Batic widens Q1 2021 net loss to SAR 3.8 mln

Batic widens Q1 2021 net loss to SAR 3.8 mln

10/05/2021 Argaam Exclusive

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Batic Investments and Logistics Co. widened net losses after Zakat and tax to SAR 3.8 million in Q1 2021, from SAR 3.1 million in the year-earlier period.

 

The company cut reported a 92% increase year-on-year (YoY) in operating costs. Moreover, finance costs increased by 98% YoY during the current quarter to SAR 2.75 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 105.67 123.64 17.0 %
Gross Income 14.36 9.40 (34.6 %)
Operating Income (2.61) (2.45) 6.1 %
Net Income (3.11) (3.23) (3.6 %)
Average Shares 584.96 584.96 -
EPS (Riyals) (0.01) (0.01) (3.6 %)

When compared to the previous quarter, net losses narrowed by 67.8% from SAR 11.7 million, thanks to a 6% increase in operating revenue during the current quarter.

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