Al-Babtain Power and Telecommunication Co. reported a net profit after Zakat and tax of SAR 8.7 million for Q1 2022, declining almost 44% from SAR 15.5 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 322.04 | 411.52 | 27.8 % |
| Gross Income | 43.30 | 37.12 | (14.3 %) |
| Operating Income | 17.40 | 11.75 | (32.5 %) |
| Net Income | 15.47 | 8.73 | (43.6 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.24 | 0.14 | (43.6 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 452.54 | 411.52 | (9.1 %) |
| Gross Income | 64.69 | 37.12 | (42.6 %) |
| Operating Income | 38.51 | 11.75 | (69.5 %) |
| Net Income | 7.38 | 8.73 | 18.3 % |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.12 | 0.14 | 18.3 % |
The profit decline is attributed to higher cost of sales due to an increase in raw materials cost, in addition to higher financing cost.
Sequentially, the company’s net profit rose 17.9% from SAR 7.38 million in Q4 2021 on lower selling and distribution, and, general and administrative expenses.
Total shareholders’ equity, excluding minority interest, stood at SAR 839.9 million as of March 31, 2022, up 12.4% from SAR 747 million a year earlier.
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