Saudi Cable Co. widened its net loss after Zakat and tax to SAR 101.6 million for the first nine months of 2021, from SAR 8.4 million in the same period a year earlier.
The company attributed the increase in net loss to lower sales volume and other revenues.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 297.32 | 128.71 | (56.7 %) |
| Gross Income | (37.33) | (62.45) | (67.3 %) |
| Operating Income | (105.84) | (111.58) | (5.4 %) |
| Net Income | (8.37) | (101.63) | (1,113.6 %) |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | (1.25) | (15.23) | (1,113.6 %) |
The company turned to a net loss after Zakat and tax of SAR 46.6 million in Q3 2021, compared to a net profit of SAR 51.4 million in the same quarter last year due to lower sales and other income.
On a quarterly basis, the company widened its losses in Q3 2021 compared to a loss of SAR 19.2 million in Q2 2021.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 92.61 | 23.50 | (74.6 %) |
| Gross Income | (13.28) | (24.22) | (82.4 %) |
| Operating Income | (42.76) | (43.24) | (1.1 %) |
| Net Income | 51.41 | (46.56) | (190.6 %) |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | 7.70 | (6.98) | (190.6 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 41.35 | 23.50 | (43.2 %) |
| Gross Income | (20.97) | (24.22) | (15.5 %) |
| Operating Income | (31.50) | (43.24) | (37.3 %) |
| Net Income | (19.19) | (46.56) | (142.7 %) |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | (2.88) | (6.98) | (142.7 %) |
Total shareholders' equity, excluding minority interests, reached SAR 173.7 million as of Sept. 30, 2021, compared to SAR 338.5 million in the previous year.
Accumulated losses amounted to SAR 164 million, or 45.5% of the company's capital, at the end of the current period.
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