“Batic” incurs losses of 746 thousand riyals during Q2

Batic Investment and Logistics Company recorded losses of 746 thousand riyals during the second quarter of 2024, compared to a profit of 480 thousand riyals in the same quarter of last year. This came after the announcement today of the financial results for the period ending on June 30, 2024 (6 months).

The operating profit amounted to 5.8 million riyals in the second quarter, compared to 3.6 million riyals in the same quarter of the previous year, an increase of 63%.

The net profit during the current period amounted to 849 thousand riyals, compared to 536 thousand riyals in the same period of last year, an increase of 59%.

The earnings per share in the current period amounted to 0.001 riyals, compared to 0.001 riyals in the same period of last year.

The company said that the reason for the increase in revenues during the current quarter of 2024 by 5% compared to the same quarter of the previous year is mainly due to the increase in revenues of the land transport sector by 42% and the increase in revenues of the smart parking sector by 19%.