‎“Al-Babtain” profits jumped 294.2% during H1, to SR 41 million ‎

Al-Babtain Energy and Communications Company revealed an increase in net profit after zakat and tax in the second quarter to 41 million riyals, compared to 10.4 million riyals in the same quarter of last year, at a rate of 294.2%. This came after today’s announcement of the preliminary financial results for the period ending on June 30. (six months).

Operationl profit amounted to 71.2 million riyals in the second quarter, compared to 23.6 million riyals in the same quarter of the previous year, with a growth of 201.6%.

The net profit after zakat and tax during the 6-month period amounted to 54.9 million riyals, compared to 19.1 million riyals in the same period last year, an increase of 187.4%.

The total shareholders’ equity “without minority rights” amounted to 849 million riyals in the current period, compared to 835 million riyals in the same period last year, an increase of 1.6%.

Earnings per share in the current period reached 1.29 riyals, compared to 0.47 riyals in the same period last year.

The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to the growth in sales by 49% and the decrease in production costs with the improvement in selling prices.

The reason for the increase in net profit during the current quarter compared to the previous quarter is due to the decrease in production costs

The reason for the increase in the net profit for the current period compared to the same period of the previous year is due to the growth in sales at a rate of 51.9% and the decrease in production costs with the improvement in selling prices.