Riyadh – Mubasher: Al Babtain Power and Telecommunication Company reported a 6.627% decline in net profits after zakat and tax to SAR 80.3 million in 2020 from SAR 86 million in 2019.
Higher profits are attributed to a rise in operating expenses, estimated zakat, and income taxes expenses, according to a bourse filing on Tuesday.
The company's revenues increased by 2.854% to SAR 1.387 billion last year from SAR 1.348 billion in 2019.
The earnings per share (EPS) settled at SAR 1.88 in 2020, compared to SAR 2.02 in 2019.
It is noteworthy to mention that during the third quarter (Q3) of 2020, the company's net profits recorded SAR 15.3 million, a drop of 26.8% from SAR 20.9 million in the same quarter in 2019.
