Riyadh – Mubasher: The net loss after Zakat and tax of Batic Investments and Logistics Company decreased by 75.33% to reach SAR 6.08 million in the first nine months (9M) of 2023, compared to SAR 24.67 million in 9M-22.
The loss per share edged down from SAR 0.04 in 9M-22 to SAR 0.01 in 9M-23, according to the preliminary financial statements.
The company recorded a 12.72% growth in revenue to SAR 354.24 million in the period from January to September 2023, versus SAR 314.26 million in the same period of 2022.
Financial Results for Q3
In the third quarter (Q3) of 2023, the listed firm reported a net loss after Zakat and tax of SAR 6.62 million, a drop of 48.22% from SAR 12.79 million in Q3-22.
The revenues increased by 12.18% to SAR 122.67 million from July to September 2023, compared to SAR 104.69 million in the same period of the prior year.
On a quarterly basis, the company turned to net losses in Q3-23 from a net profit of SAR 480,424 in Q2-23, while the revenues rose by 4.52% from SAR 117.36 million.
In Q1-23, the company announced net profits after Zakat and tax worth SAR 55,671 and revenues of SAR 114.20 million.
