Riyadh – Mubasher: Taiba Investments Company has incurred a net loss after Zakat and tax worth SAR 1.91 million during the first quarter (Q1) of 2021, against net profits of SAR 50.57 million in the same period last year.

The loss per share stood at SAR 0.01 in Q1-21, versus earnings per share of SAR 0.32 in Q1-20, according to the initial income statements.

Revenues shrank 59.6% to SAR 34.26 million in Q1-21 from SAR 85 million in Q1-20.

On a quarterly basis, Taiba Investments’ net loss in Q1-21 has narrowed 76.5% from SAR 8.14 million in the fourth quarter (Q4) of 2020.

Revenues in Q1-21 also decreased 20.5% from SAR 43.14 million in Q4-20.