Riyadh – Mubasher: The Saudi Public Transport Company (SAPTCO) incurred net losses after Zakat and tax worth SAR 152.89 million during the first nine months of 2021, lower by 49% year-on-year (YoY) than SAR 302.02 million.
The loss per share declined to SAR 1.2 at the end of September this year from SAR 2.4 in the same period in 2020, according to the initial consolidated financial results on Sunday.
Revenues decreased by 20.6% YoY to SAR 679.64 million in January-September 2021 from SAR 856.73 million.
At the end of September 2021, SAPTCO’s accumulated losses reached SAR 129.01 million, representing 10.32% of the SAR 1.25 billion capital.
During the third quarter (Q3) of 2021, the company suffered net losses worth SAR 57.09 million, down 53% from SAR 121.75 million in Q3-20. The losses were meanwhile higher by 38% than SAR 41.35 million in Q2-21.
Revenues also shrank by 29% to SAR 221.68 million in Q3-21 from SAR 313.93 million in Q3-20.
