Riyadh - Mubasher: Al-Babtain Power and Telecom Company reported a decline in its profits for the first quarter of 2018 by 50.4% year-on-year.
Quarterly profits reached SAR 19.4 million by the end of Q1-18, compared with SAR 39.1 million for the same period last year, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Thursday.
Profits also decreased by 47.4% quarter-on-quarter, as shown by the company’s financial statements.
Al-Babtain attributed the fall in profits to higher sales costs.
