Batic Investments and Logistics Co. announces the interim consolidated financial results for the period ending on 30-09-2020 (Nine Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 190,748,346 | 115,723,152 | 64.831 | 98,051,948 | 94.538 |
| Gross Profit (Loss) | 31,044,106 | 14,645,935 | 111.963 | 4,972,241 | 524.348 |
| Operational Profit (Loss) | 21,103,398 | 5,184,355 | 307.059 | -5,766,173 | - |
| Net Profit (Loss) after Zakat and Tax | 9,164,018 | 2,065,217 | 343.731 | -7,199,350 | - |
| Total Comprehensive Income | 9,164,018 | 2,065,217 | 343.731 | -7,199,350 | - |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 394,430,327 | 347,590,788 | 13.475 |
| Gross Profit (Loss) | 50,339,231 | 47,684,224 | 5.567 |
| Operational Profit (Loss) | 18,683,629 | 14,900,725 | 25.387 |
| Net Profit (Loss) after Zakat and Tax | -1,148,795 | 5,799,389 | - |
| Total Comprehensive Income | -1,148,795 | 5,799,389 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 372,449,060 | 376,802,631 | -1.155 |
| Profit (Loss) per Share | -0.04 | 0.19 | |
| 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 increasing the net profits during the current quarter compared to net profit for the same quarter of the previous year by 344% is mainly due to:
- The increase in Operating profit by SAR 15,919,043 (307%) compared to the same quarter of the previous year due to increase the revenue by 65% and increase Total profit by 112% because of the contribution of the revenue from supplying medical equipment sector through one of the subsidiaries. - The increase in other revenue for the current quarter by SAR 558,976 (142%) compared to the same quarter last year. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The reason for achieving net income for the current quarter compared to the net loss in the previous quarter is mainly due to:
- The increase in total profit by SAR 26,071,865 (524%) compared to the previous quarter due to increase the revenue by 95% and because of the contribution of the revenue from supplying medical equipment sector through one of the subsidiaries. - The increase in other revenue for the current quarter by SAR 885,924 (1304%) compared to the previous quarter. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to | The reason for achieving net loss during the current Period compared to net profit during the same Period of the previous year is mainly due to:
- The increase of the provision of expected credit loss by 138 % where the provision of expected credit loss during this period amounting to SAR 8,729,272 compared to SAR 3,661,400 for the same period of the previous year. - The increase in finance costs by 145% where the finance costs amounting to SAR 4,540,237 compared to SAR 1,856,046 for during the same Period of the previous year 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 in addition to supplying of Medical equipment and purchasing new fleet. - The increase of non-controlling interest by 699% which the non-controlling interest amounting SAR 4,533,754 during the current period compared to SAR 567,456 for same period of the last year. |
| 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. |
Comments