Riyadh – Mubasher: The Knowledge Economic City has incurred SAR 5.29 million worth of net loses after zakat and tax during the first quarter (Q1) of 2020, versus net profits of SAR 19.56 million in the same period a year ago.

The company attributed the negative results to lower revenues, according to a stock exchange disclosure on Monday.

Revenues reached SAR 24.9 million in the January-March period, down by 69.6% from SAR 82.1 million in Q1-19.