Riyadh - Mubasher: Saudi Public Transport Company (SAPTCO) registered 58.72% lower net losses at SAR 20.07 million in the first quarter (Q1) of 2025, compared with SAR 48.62 million in Q1-24.
Meanwhile, the revenues increased by 10.63% to SAR 341.33 million in Q1-25 from SAR 308.51 million in the same period a year earlier, according to the financial results.
The loss per share stood at SAR 0.19 in the first three months (3M) of 2025, compared to SAR 0.39 in Q1-24.
On a quarterly basis, the Q1-25 net losses widened by 250.03% from SAR 5.73 million in the October-December 2024 period, while the revenues rose by 12.71% from SAR 302.82 million.
During the January-December 2024 period, SAPTCO turned profitable at SAR 15.11 million, against net losses worth SAR 24.17 million in 2023.
The revenues declined by 7.01% year-on-year (YoY) to SAR 1.45 billion at the end of December 2024 from SAR 1.56 billion.
The loss per share amounted to SAR 0.08 last year, versus SAR 0.28 in 2023.
In the first nine months (9M) of 2024, SAPTCO recorded a net profit of SAR 20.85 million, compared to SAR 44.73 million in the same period of 2023.
