Al-Babtain Power and Telecommunication Co. reported net profit after Zakat and tax of SAR 52.1 million for the first nine months of 2020, a decline of 15% year-on-year (YoY), due to lower sales and other revenue, higher Zakat expenses and income tax estimate.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,081.51 | 1,036.79 | (4.1 %) |
| Gross Income | 159.64 | 145.78 | (8.7 %) |
| Operating Income | 59.69 | 71.96 | 20.6 % |
| Net Income | 61.61 | 52.05 | (15.5 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.96 | 0.81 | (15.5 %) |
Net profit after Zakat and tax for the third quarter fell by 27% YoY to SAR 15.3 million, due to lower sales, along with higher Zakat expenses and income tax estimate.
On a quarter-on-quarter basis, Q3 2020 net profit plunged 25.6% on an increase in the cost of sales, higher Zakat charges, income tax estimate, and marketing expenses.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 437.57 | 353.06 | (19.3 %) |
| Gross Income | 62.64 | 46.67 | (25.5 %) |
| Operating Income | 29.31 | 22.71 | (22.5 %) |
| Net Income | 20.95 | 15.31 | (26.9 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.33 | 0.24 | (26.9 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 294.11 | 353.06 | 20.0 % |
| Gross Income | 54.28 | 46.67 | (14.0 %) |
| Operating Income | 30.47 | 22.71 | (25.5 %) |
| Net Income | 22.51 | 15.31 | (32.0 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.35 | 0.24 | (32.0 %) |
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