Batic turns to SAR 90,700 net profit in H1 2021

16/08/2021 Argaam Exclusive

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Batic Investments and Logistics Co. reported net profit after Zakat and tax of SAR 90,700 for H1 2021, versus net loss of SAR 10.31 million in prior-year period, driven by an increase in realized and unrealized revenues from investments at fair value.

The company also cited higher operating revenue and increased gross profit.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	203.68	236.73	16.2 %
Gross Income	19.30	19.63	1.7 %
Operating Income	(9.40)	0.25	102.6 %
Net Income	(10.31)	0.13	101.3 %
Average Shares	584.96	584.96	-
EPS (Riyals)	(0.02)	0.00	101.3 %

The company swung to SAR 3.9 million net profit in Q2 2021, versus net loss of SAR 7.20 million in year-earlier period, due to higher operating revenue, and increased gross profit.

On a sequential basis, the company turned to profit in Q2, versus SAR 3.76 million loss in Q1 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	98.05	113.09	15.3 %
Gross Income	4.97	10.23	105.7 %
Operating Income	(6.79)	2.70	139.7 %
Net Income	(7.20)	3.36	146.6 %
Average Shares	584.96	584.96	-
EPS (Riyals)	(0.01)	0.01	146.6 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	123.64	113.09	(8.5 %)
Gross Income	9.40	10.23	8.8 %
Operating Income	(2.45)	2.70	210.0 %
Net Income	(3.23)	3.36	204.1 %
Average Shares	584.96	584.96	-
EPS (Riyals)	(0.01)	0.01	204.1 %

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