Al Babtin Power and Telecommunication Company (Al Babtin) posted a 2.06% year-on-year increase in its profits for the first quarter of 2019.
Net profits after zakat and tax stood at SAR 19.8 million in Q1-19, compared to SAR 19.4 million in Q1-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Thursday.
The increase in Q1-19 profits was attributed to a rise in other revenues.
Earnings per share (EPS) inched up SAR 0.46 during the three-month period ended 31 March, from SAR 0.45 in Q1-18.
Operating profits of the Saudi-based firm slid 78.2% to SAR 6.3 million during the first three months of 2019, against SAR 29 million in the same period of the prior year.
For the full-year 2018, Al Babtin reported a 53% year-on-year decrease in profits, recording SAR 69.7 million.