Riyadh – Mubasher: Al Babtain Power and Telecommunication Company recorded net profits of SAR 15.3 million during the quarter ended on 30 September 2020, a drop of 26.8% from SAR 20.9 million in the same quarter in 2019.
This decline was driven by lower sales and higher Zakat expense and estimated income tax, according to a stock exchange statement on Monday.
Third-quarter revenue stood at SAR 353.1 million, down by 19.3% when compared to SAR 437.6 million in the year-ago period.
During the first nine months of the year, the profits fell by 15.4% yearly to SAR 52.1 million.
