Al-Babtain net profit down 12% to SAR 38.6 mln in 9M 2022, Q3 at SAR 18.4 mln

10/11/2022 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co.
34.80
(2.25) (6.07 %)

Al-Babtain Power and Telecommunication Co. (ALBABTAIN)

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Al-Babtain Power and Telecommunication Co. reported a net profit after Zakat and tax of SAR 38.6 million in the first nine months of 2022, a 12% decline compared to SAR 43.7 million in the year-ago period

 

The profit drop was attributed to higher selling and distribution expenses, finance cost and foreign currency revaluation differences.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 1,049.58 1,510.29 43.9 %
Gross Income 130.10 143.93 10.6 %
Operating Income 55.65 107.77 93.6 %
Net Income 43.65 38.55 (11.7 %)
Average Shares 63.95 63.95 -
EPS (Riyals) 0.68 0.60 (11.7 %)

In Q3 2022, the net profit after Zakat and tax saw a 45% jump to SAR 18.4 million, from SAR 12.65 million in the year before, on higher sales of all segments. 

 

The company’s net profit rose 61% from SAR 11.43 million in Q2 2022. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 341.77 740.17 116.6 %
Gross Income 39.67 60.39 52.2 %
Operating Income 14.73 32.65 121.6 %
Net Income 12.65 18.39 45.3 %
Average Shares 63.95 63.95 -
EPS (Riyals) 0.20 0.29 45.3 %

Shareholders’ equity, no minority interest, grew to SAR 841.37 million as of Sept. 30, 2022, from SAR 835.16 million in the year-earlier period.

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