Batic Investments and Logistics Co. reported a net loss after Zakat and tax of SAR 1.2 million for the first nine months of 2020, compared to a net profit of SAR 5.8 million a year earlier.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 347.59 | 394.43 | 13.5 % |
| Gross Income | 47.68 | 50.34 | 5.6 % |
| Operating Income | 14.90 | 9.95 | (33.2 %) |
| Net Income | 5.80 | (1.15) | (119.8 %) |
| Average Shares | 584.96 | 584.96 | - |
| EPS (Riyals) | 0.01 | 0.00 | (119.8 %) |
The loss was attributed to an increase in the provision of expected credit loss and finance costs, along with higher non-controlling interest.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 115.72 | 190.75 | 64.8 % |
| Gross Income | 14.65 | 31.04 | 112.0 % |
| Operating Income | 5.18 | 19.35 | 273.3 % |
| Net Income | 2.07 | 9.16 | 343.8 % |
| Average Shares | 584.96 | 584.96 | - |
| EPS (Riyals) | 0.00 | 0.02 | 343.8 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 98.05 | 190.75 | 94.5 % |
| Gross Income | 4.97 | 31.04 | 524.4 % |
| Operating Income | (6.79) | 19.35 | 385.0 % |
| Net Income | (7.20) | 9.16 | 227.3 % |
| Average Shares | 584.96 | 584.96 | - |
| EPS (Riyals) | (0.01) | 0.02 | 227.3 % |
The company reported a net profit after Zakat and tax of SAR 9.2 million in Q3 2020, compared to a profit of SAR 2.06 million a year earlier, due to higher operating profit and an increase in other revenue.
On a quarterly basis, Batic turned to profits in Q3 2020 on higher other revenue.
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