Etihad Atheeb Telecommunication Co. (GO narrowed its net loss after Zakat and tax to SAR 24.3 million in the six-month period ended Sept. 30, 2020, from SAR 52.7 million in the same period last year.
The company attributed the decline in losses to lower cost of services, selling and marketing expenses, depreciation & amortization expenses, allowance for impairment in trade receivables, general & administrative expenses, and decrease in financial charges.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 183.93 | 140.80 | (23.5 %) |
| Gross Income | 81.91 | 80.41 | (1.8 %) |
| Operating Income | (44.55) | (17.54) | 60.6 % |
| Net Income | (52.69) | (24.30) | 53.9 % |
| Average Shares | 29.62 | 29.62 | 0.0 % |
| EPS (Riyals) | (1.78) | (0.82) | 53.9 % |
The company narrowed its losses to SAR 12 million in Q2 2020/21 from a loss of SAR 20.8 million in the same quarter a year earlier.
On sequential basis, Atheeb slightly cut its losses in Q2 2020/21.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 86.84 | 67.77 | (22.0 %) |
| Gross Income | 42.23 | 40.54 | (4.0 %) |
| Operating Income | (18.60) | (8.87) | 52.3 % |
| Net Income | (20.83) | (12.03) | 42.2 % |
| Average Shares | 29.62 | 29.62 | 0.0 % |
| EPS (Riyals) | (0.70) | (0.41) | 42.2 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 73.03 | 67.77 | (7.2 %) |
| Gross Income | 39.87 | 40.54 | 1.7 % |
| Operating Income | (8.67) | (8.87) | (2.4 %) |
| Net Income | (12.27) | (12.03) | 1.9 % |
| Average Shares | 29.62 | 29.62 | - |
| EPS (Riyals) | (0.41) | (0.41) | 1.9 % |
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