Riyadh – Mubasher: The Saudi Public Transport Company (SAPTCO) incurred net losses after Zakat and tax at SAR 95.8 million in the first half (H1) of 2021, down by 46.8% from SAR 180.27 million in H1-20.
Losses per share amounted to SAR 0.75 in the January-June 2021 period, compared to SAR 1.43 in the prior-year period, according to a bourse filing on Tuesday.
Revenues shrank by over 15% to SAR 457.96 million in H1-21 from SAR 542.8 million in H1-20.
SAPTCO’s accumulated losses reached SAR 73.04 million at the end of June 2021, representing 5.84% of the SAR 1.25 billion capital.
In the second quarter (Q2) of 2021, the company’s net losses plunged by 70.5% to SAR 41.35 million from SAR 140.33 million in Q2-20.
Revenues meanwhile jumped by 100.7% to SAR 246.38 million in Q2-21 from SAR 122.74 million in Q2-20.
Quarter-on-quarter (QoQ), the net losses in Q2-21 were lower by 24% from SAR 54.44 million in Q1-21, while the revenues rose by 16.4% from SAR 211.58 million.
