Al-Babtain Power & Telecommunication Co. (Al-Babtain) reported net profit after Zakat and tax of SAR 14.2 million, 28% down year-on-year (YoY) for the first quarter of 2020, driven by lower profit margins, as selling prices were squeezed despite lower general and administrative expenses (G&As) and higher sales volumes.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 285.94 | 389.63 | 36.3 % |
| Gross Income | 39.50 | 44.82 | 13.5 % |
| Operating Income | 6.32 | 18.78 | 197.0 % |
| Net Income | 19.82 | 14.23 | (28.2 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.31 | 0.22 | (28.2 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 267.06 | 389.63 | 45.9 % |
| Gross Income | 27.68 | 44.82 | 61.9 % |
| Operating Income | 32.57 | 18.78 | (42.3 %) |
| Net Income | 24.40 | 14.23 | (41.7 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.38 | 0.22 | (41.7 %) |
On a sequential basis, net profit declined 41.8%, due to a slump in profit margins.
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