Al-Babtain Power and Telecommunication Co. reported a net profit of SAR 14.2 million for Q1 2023, leaping 63% from SAR 8.7 million in the year-earlier period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 411.52 | 635.48 | 54.4 % |
| Gross Income | 37.12 | 61.01 | 64.3 % |
| Operating Income | 11.75 | 28.65 | 143.9 % |
| Net Income | 8.73 | 14.20 | 62.7 % |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.14 | 0.22 | 62.7 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 686.77 | 635.48 | (7.5 %) |
| Gross Income | 124.67 | 61.01 | (51.1 %) |
| Operating Income | 83.03 | 28.65 | (65.5 %) |
| Net Income | 14.08 | 14.20 | 0.8 % |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.22 | 0.22 | 0.8 % |
This was due to the increase in sales by 55% year-on-year (YoY) and improved selling prices.
Sequentially, the company’s Q1 2023 profit fell 35.1% from SAR 21.89 million, due to lower sales.
Total shareholders’ equity, excluding minority interest, stood at SAR 847.6 million as of March 31, 2023, up from SAR 839.9 million a year earlier.
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