Riyadh – Mubasher: Batic Investments and Logistics Company’s (Batic) third-quarter profits rose by 343.7% on a year-on-year (YoY) basis to SAR 9.16 million, compared with SAR 2.1 million a year earlier.   

The rise in quarterly earnings was supported by a 307% surge in operating profit as revenues and gross profit increased, according to a stock exchange statement on Monday.

Meanwhile, other income hiked by 142% while quarterly revenue jumped by 64.8% annually to SAR 190.7 million.

During the first nine months of 2020, the company turned to net losses of SAR 1.1 million, versus net profits of SAR 5.8 million in the year-ago period.