Al-Babtain's net profit down 10% to SAR 36.7 mln in H1 2020

Al-Babtain Power and Telecommunication Co. reported net profit after Zakat and tax of SAR 36.7 million for the first half of 2020, a decline of 10% year-on-year (YoY), driven by higher cost of finance, increased Zakat expenses and lower other revenue.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	643.94	683.73	6.2 %
Gross Income	97.00	99.11	2.2 %
Operating Income	30.38	49.25	62.1 %
Net Income	40.66	36.74	(9.6 %)
Average Shares	63.95	63.95	-
Earnings Per Share before unusual items (Riyals)	0.37	0.55	50.6 %
EPS (Riyal)	0.64	0.57	(9.6 %)

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	358.00	294.11	(17.8 %)
Gross Income	57.50	54.28	(5.6 %)
Operating Income	24.05	30.47	26.7 %
Net Income	20.84	22.51	8.0 %
Average Shares	63.95	63.95	-
Earnings Per Share before unusual items (Riyal)	0.28	0.35	24.3 %
EPS (Riyal)	0.33	0.35	8.0 %

Item	Q1 2020	Q2 2020	Change‬
Revenues	389.63	294.11	(24.5 %)
Gross Income	44.82	54.28	21.1 %
Operating Income	18.78	30.47	62.2 %
Net Income	14.23	22.51	58.2 %
Average Shares	63.95	63.95	-
Earnings Per Share before unusual items (Riyal)	0.20	0.35	76.9 %
EPS (Riyal)	0.22	0.35	58.2 %

Net profit after Zakat and tax for the second quarter rose 8% YoY to SAR 22.5 million, due to lower marketing, general and administrative expenses and decreased Zakat expenses.

On a quarter-on-quarter basis, the profit for the current quarter increased by 58.45%.

Al-Babtain's net profit down 10% to SAR 36.7 mln in H1 2020

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Financials (M)

Current Quarter Comparison (M)

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