Riyadh – Mubasher: Saudi Public Transport (SAPTCO) earned SAR 82.4 million during the third quarter of the fiscal year 2016, higher 1.26% year-on-year from SAR 81.4 million, according to a bourse filing.

Quarter-on-quarter, net profit jumped 480% from SAR14.219 million, the bourse filing revealed on Tuesday.

Higher Q3 profits are driven by a decrease in general, administrative and marketing expenses, said the company.  

Over the first nine months, net profit declined 47.85% year-on-year to SAR 121 million from  SAR 232.15 million.