The financial statements of Al-Babtain Power and Communications Company showed a decline in the company's profits in the first half of the current year by 9.8% compared to the profits of the same period last year.
According to the company's results for the Saudi market (Tadawul) today, Monday, the profits for the period amounted to 36.7 million riyals, compared to the profits of the first half of last year amounting to 40.7 million riyals.
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The company said in a statement to the Stock Exchange that the decline in profits during the comparison periods is due to higher financing costs, zakat expense and estimated income tax and lower other revenues.
The company achieved profits of 22.5 million riyals in the second quarter of this year, compared to a profit of 20.8 million riyals for the same period last year, with an increase in profits by 8.2% .
(Amazon fun knowledge)
