Financial Results : SAPTCO narrows losses to SAR 95.8 mln in H1 2021

SAPTCO narrows losses to SAR 95.8 mln in H1 2021

03/08/2021 Argaam Exclusive

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Saudi Public Transport Co. (SAPTCO) narrowed net loss after Zakat and tax to SAR 95.8 million in H1 2021, from a loss of SAR 180.3 million in the prior-year period.

 

The company attributed the decline in losses to lower cost of revenue, general and administrative expenses, allowance for doubtful debts and financing cost, in addition to higher other revenue and lower Zakat and income tax expenses.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 542.80 457.96 (15.6 %)
Gross Income (79.10) (22.83) 71.1 %
Operating Income (141.06) (60.27) 57.3 %
Net Income (178.62) (93.71) 47.5 %
Average Shares 125.00 125.00 -
EPS (Riyals) (1.43) (0.75) 47.5 %

The company reported a net loss after Zakat and tax of SAR 41.4 million for Q2 2021, compared to a loss of SAR 138.64 million in the same quarter last year.

 

On a sequential basis, the company narrowed its losses in Q2 2021 on higher operating revenues.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 122.75 246.38 100.7 %
Gross Income (82.89) (9.86) 88.1 %
Operating Income (113.69) (24.78) 78.2 %
Net Income (138.64) (39.98) 71.2 %
Average Shares 125.00 125.00 -
EPS (Riyals) (1.11) (0.32) 71.2 %

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