Al Babtain Power’s profits skyrocket 481.6% in Q1-24

Revenues climbed by 9.45% to SAR 699.50 million as of 31 March 2024 from SAR 639.10 million in Q1-23, according to the interim financials

Staff Writer, Mubasher

May 20, 2024

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Al Babtain Power and Telecommunication Company posted a 481.69% year-on-year (YoY) leap in net profit to SAR 82.60 million during the first quarter (Q1) of 2024, compared to SAR 14.20 million.

Revenues climbed by 9.45% to SAR 699.50 million as of 31 March 2024 from SAR 639.10 million in Q1-23, according to the interim financials.

The earnings per share (EPS) stood at SAR 1.20 in the first three months (3M) of 2024, marking an annual growth from SAR 0.22.

Quarterly, the Q1-24 profits jumped by 91.20% from SAR 43.20 million in Q4-23, while the revenues surged by 24.24% from SAR 563 million.

Total revenue of Al Babtain Power increased to SAR 2.49 billion in 2023 from SAR 2.19 billion in 2022.

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