Al-Baha Investment and Development Co. reported net loss after Zakat and tax of SAR 952,000 for Q1 2021, versus net profit of SAR 381,000 for Q1 2020, driven by the repercussions of COVID-19 outbreak on real estate and leasing portfolio.
The company also cited higher general and one-time administration expenses related to the previously announced capital increase.
On a sequential basis, net loss narrowed by 96.77%.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 2.76 | 2.54 | (7.8 %) |
| Gross Income | 1.67 | 1.32 | (20.9 %) |
| Operating Income | 0.94 | (0.55) | (159.0 %) |
| Net Income | 0.27 | (0.95) | (451.3 %) |
| Average Shares | 2,964.00 | 2,964.00 | - |
| EPS (Halala) | 0.01 | (0.03) | (451.3 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 2.91 | 2.54 | (12.7 %) |
| Gross Income | 1.27 | 1.32 | 4.3 % |
| Operating Income | (3.49) | (0.55) | 84.1 % |
| Net Income | (29.28) | (0.95) | 96.7 % |
| Average Shares | 2,964.00 | 2,964.00 | - |
| EPS (Halala) | (0.99) | (0.03) | 96.7 % |
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