The Saudi Public Transport Company (SAPTCO) announces its Interim Financial Results for the Period Ending on 2023-09-30 (Nine Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 431,849 | 352,978 | 22.34 | 457,898 | -5.69 |
| Gross Profit (Loss) | 116,090 | 80,677 | 43.89 | 121,960 | -4.81 |
| Operational Profit (Loss) | 74,095 | 33,626 | 120.35 | 70,462 | 5.16 |
| Net Profit (Loss) after Zakat and Tax | 33,594 | 1,271 | 2,543.11 | 58,542 | -42.62 |
| Total Comprehensive Income | 33,594 | 1,271 | 2,543.11 | 58,542 | -42.62 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,197,415 | 962,650 | 24.39 |
| Gross Profit (Loss) | 248,253 | 149,865 | 65.65 |
| Operational Profit (Loss) | 117,485 | 38,782 | 202.94 |
| Net Profit (Loss) after Zakat and Tax | 44,739 | -1,285 | - |
| Total Comprehensive Income | 44,739 | -1,285 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 981,332 | 1,052,121 | -6.73 |
| Profit (Loss) per Share | 0.29 | 0.02 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| -268,668 | 1,250,000 | -21.49 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the increase in the profit during the current quarter compared to the same quarter of the previous year is due to:
1. Revenue is increased due to increase in the public transport operation. Increase in operations and revenue is directly proportionate to the cost of revenues, cost of finance and Zakat expenses.in addition to, recognition of higher Impairment of receivable in the current quarter. 2. Decrease in the General administration expenses. 3. Decrease in the Selling and distribution expenses. 4. Recognition of higher losses in joint venture in the current quarter. 5. Recognition of higher losses in associates in the current quarter. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The reason for decrease in the profits during the current quarter compared to the previous quarter of the current year is due to:
1. Revenue is decreased when compared to the previous quarter due to Ramadan and Hajj season revenues. Consequently, cost of revenues, selling and distribution expenses and general and administrative have also decreased. 2. Recognition of higher Impairment of receivable in the current quarter. 3. Recognition of higher losses in joint venture in the current quarter. 4. Decrease in the other revenues. 5. Increase in the Zakat expenses. 6. Share of losses in investments in associates have decreased in the current quarter. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for the profits during the current period compared to the losses in the same period of the previous year is due to:
1 Revenue is increased due to increase in public transport operation and Ramadan and Hajj season. Increase in operations and revenue is directly proportionate to the cost of revenues, selling and distribution expenses, general and administrative, cost of finance and Zakat expenses. However, other revenues has decreased. 2. Recognition of higher impairment of receivable in the same period of previous year. 3. Recognition of higher losses in joint venture in the same period of previous year. 4. Reversal of impairment on assets held for sales in the same period of previous year. 5. Recognition of higher losses in associates in the current period. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | - |
| Additional Information | - The profit per share for the current quarter was calculated based on the net profit for the current quarter relating to the shareholders of the parent company amounting to SAR 20,199 thousand. Similarly, the profit per share for the same quarter of the previous year was calculated based on the net profit relating to the shareholders of the parent company amounting to SAR 4,034 thousand.
- The profit per share for the current period was calculated based on the net profit for the current period relating to the shareholders of the parent company amounting to SAR 36,247 thousand. Similarly, the profits per share for the same period of the previous year was calculated based on the net profit relating to the shareholders of the parent company amounting to SAR 2,471 thousand.
- The accumulated losses were SAR (288.9) million as of 30 June, 2023, representing (23.11%) of the share capital of SAR 1,250 million, decreased to SAR (268.7) million as of 30 September, 2023, representing (21.49%) of the share capital. The decrease in the accumulated losses was consequent to the profit realized during quarter three 2023. |
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