Saudi Public Transport Co. (SAPTCO) reported net loss after Zakat and tax of SAR 302 million, versus net profit of SAR 74.5 million in prior-year period, driven by lower operating revenue and increased cost of finance.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,325.24 | 856.73 | (35.4 %) |
| Gross Income | 204.45 | (105.56) | (151.6 %) |
| Operating Income | 85.10 | (197.83) | (332.5 %) |
| Net Income | 76.89 | (299.57) | (489.6 %) |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | 0.62 | (2.40) | (489.6 %) |
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 485.31 | 313.93 | (35.3 %) |
| Gross Income | 172.50 | (26.46) | (115.3 %) |
| Operating Income | 119.62 | (56.77) | (147.5 %) |
| Net Income | 97.11 | (120.95) | (224.6 %) |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | 0.78 | (0.97) | (224.6 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 122.75 | 313.93 | 155.8 % |
| Gross Income | (82.89) | (26.46) | 68.1 % |
| Operating Income | (113.69) | (56.77) | 50.1 % |
| Net Income | (138.64) | (120.95) | 12.8 % |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | (1.11) | (0.97) | 12.8 % |
SAPTCO reported net loss after Zakat and tax of SAR 121.8 million in Q3 2020, versus net profit of SAR 95 million in year-earlier period, due to lower operating revenue on the lockdown measures, and increased cost of revenue.
The transport services provider also cited losses from an associate as well as a joint venture (JV), lower other revenue and asset impairment provisions.
On a sequential basis, Q3 2020 net loss shrank by 13.2%.
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