BABTAIN Q4 Net Profit Increases 52.31 Percent

19/01/2014 19:15 AST

Net profit of Al-Babtain Power and Telecommunication Company (BABTAIN) during the 4th Q 2013 amounted to SAR 19.8 million versus SAR 13 million for the same quarter of last year with an increase of 52.31 %, compared to SAR 16.4 million for the previous quarter with an increase of 20.73 %.

Gross profit during the 4th Q of 2013 added up to SAR 53.9 million versus SAR 43.3 million for the same quarter of last year, an increase of 24.48 percent.

Operating profit increased 147.17 % to SAR 26.2 million during 4thQuarter of 2013 versus SAR 10.6 million for the same quarter of last year.

While, net profit during 2013 showed an increase of 31.16 percent with SAR 102.7 million versus SAR 78.3 million for the last year 2012.

EPS of BABTAIN during 2013 recorded as SAR 2.41 per share versus 1.84 SAR/Share for the same period last year 2012.

The total gross profit during 2013 is recorded as SAR 242.9 million versus SAR 134.1 million for the last year 2012, showing increase of 81.13%.

The total operating profit of BABTAIN during 2013 amounted to SAR 101.2 million versus SAR 9.7 million for the last year 2012, increasing 943.3 %.

The reason for increase in net profit for quarter compared with same quarter last year came from the lower cost of sales ratio from 88% in 2012 to 86.6 % of sales in 2013 due to improved selling prices, lower cost of materials and decrease in administrative expenses.

The reason for increase in net profits for the period compared with same period last year came from the lower cost of sales ratio from 90% in 2012 to 82.5 % of sales in 2013 due to improved selling prices and lower cost of materials in addition to the low Zakat and income tax.

Gulfbase.com