Riyadh – Mubasher: Al Babtain Power and Telecommunication Company (Al Babtain) reported its interim financial results for the second quarter of 2019.

Net profits after zakat and tax inched up by 1.4% to SAR 20.8 million in Q2-19, compared to SAR 20.5 million in Q2-18, according to the firm’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.

Revenues of the Saudi telecom company hiked 47.08% to SAR 358 million during the three-month period between April and June, from SAR 243.4 million in the corresponding period a year ago.

For the first six months of 2019, net profits of Al Babtain levelled up 2% to SAR 40.7 million, versus SAR 39.9 million in H1-18.

The company generated SAR 643.9 million in revenues in H1-19, up 21.9% from SAR 527.9 million in the same period of the previous year.

Profit per share stood at SAR 0.95 during the six-month period ended in June.