Batic Investments and Logistics Co. reported a net profit of SAR 57,000 for the first nine months of 2024, compared to a loss of SAR 6.1 million in the year-earlier period.
Item | 9m 2023 | 9m 2024 | Change |
---|---|---|---|
Revenues | 354.25 | 367.28 | 3.7 % |
Gross Income | 46.66 | 48.31 | 3.5 % |
Operating Income | 2.01 | 14.60 | 627.6 % |
Net Income | (6.09) | 0.06 | 100.9 % |
Average Shares | 600.00 | 600.00 | - |
EPS (Riyals) | (0.01) | 0.00 | 100.9 % |
Batic recorded a 3.7% rise year-on-year (YoY) in revenue for the current period, driven by a 42% increase in land transport, 37% growth in smart parking, and a 23% rise in investment property revenue, offset by a 36% drop in security services.
Operating profit jumped 627% to SAR 14.6 million, mainly due to a 4% rise in operational income, an 18% cut in general and administrative expenses (G&A), and a 55% reduction in financial impairment provisions.
Item | Q3 2023 | Q3 2024 | Change |
---|---|---|---|
Revenues | 122.68 | 119.77 | (2.4 %) |
Gross Income | 12.50 | 16.27 | 30.1 % |
Operating Income | (3.57) | 4.62 | 229.4 % |
Net Income | (6.62) | (0.79) | 88.0 % |
Average Shares | 600.00 | 600.00 | - |
EPS (Riyals) | (0.01) | 0.00 | 88.0 % |
Item | Q2 2024 | Q3 2024 | Change |
---|---|---|---|
Revenues | 123.20 | 119.77 | (2.8 %) |
Gross Income | 17.03 | 16.27 | (4.5 %) |
Operating Income | 5.82 | 4.62 | (20.6 %) |
Net Income | (0.75) | (0.79) | (6.2 %) |
Average Shares | 600.00 | 600.00 | - |
EPS (Riyals) | 0.00 | 0.00 | (6.2 %) |
In Q3 2024, Batic narrowed net losses to SAR 792,000 from SAR 6.62 million in Q3 2023 as gross profit jumped 30% year-on-year (YoY) to SAR 16.3 million. G&A dropped 11% YoY.
On a quarterly basis, net losses widened from SAR 750,000 in Q2 2024 on a 3% sequential decline in operating income.
Total shareholders’ equity, after minority interest, declined to SAR 456.18 million as of Sept. 30, 2024, from SAR 458.30 million a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}