Batic Investments and Logistics Co. announces the interim consolidated financial results for the period ending on 31-03-2020 (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 105,669,691 | 114,086,072 | -7.377 | 116,357,162 | -9.185 |
| Gross Profit (Loss) | 14,362,543 | 17,233,704 | -16.66 | 12,437,191 | 15.48 |
| Operational Profit (Loss) | 3,346,406 | 4,656,575 | -28.135 | 1,346,018 | 148.615 |
| Net Profit (Loss) after Zakat and Tax | -3,113,384 | 1,937,247 | - | 1,100,554 | - |
| Total Comprehensive Income | -3,113,384 | 1,937,247 | - | -3,204,776 | -2.851 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 370,484,471 | 372,940,489 | -0.658 |
| Profit (Loss) per Share | -0.1 | 0.06 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The reason for achieving net loss during the current quarter compared to net profit during the same quarter of the previous year is mainly due to:
- The increase of the provision of expected credit loss by 758% where the provision of expected credit loss during this quarter amounting to SAR 5,955,356 compared to SAR 694,000 for the same quarter of the previous year. - The decrease in total profit by SAR 2,871,161 due to the decrease in revenue of current Period by 7.38% compared to the same period of the previous year. - The increase in finance costs by SR 829,059 as a result of a loan borrowed from the bank for one of the subsidiaries in order to implement smart parking project in the Eastern region. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The reason for achieving net loss during the current quarter compared to net profit during the previous quarter is mainly due to:
- The increase of the provision of expected credit loss the current quarter amounting to SAR 5,955,356. - The increase in finance costs by SR 773,206 as a result of a loan borrowed from the bank for one of the subsidiaries in order to implement smart parking project in the Eastern region. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Prior period figures have been re-classified to conform to the presentation in the current period. |
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