“Pats” turns into profitability at 1.6 million riyals in the second quarter of 2025

Patk Investment and Logistical Business Company in the second quarter of 2025 has turned 1.6 million riyals, compared to losses of 745.9 thousand riyals in the same quarter of last year.
According to the company’s statement on the circulation of Saudi Arabia, the reason for achieving the net profit during the current quarter is compared to a net loss in the same quarter of the previous year mainly to:
1- Increasing the operating profit by 51 %, as the operating profit during the current quarter amounted to 8.8 million riyals compared to a 5.8 million riyals operating profit during the same quarter of the previous year and mainly returning to the increase in the overall profit by 2 % in addition to the comprehensive quarter of the previous year on the provision of the decrease in the value of the financial assets of 1.5 million riyals.
2- The decrease in financing costs by 44%, as the financing costs during the current quarter amounted to 3.4 million riyals compared to 6 million riyals during the same quarter of the previous year.
This came despite the registration of unrealized losses from investments of fair value through profit or loss in the amount of 3.3 million riyals during the current profit compared to registering unrealized gains in the amount of 986 thousand riyals during the same quarter of the previous year.
The reason for a low profit decrease during the current quarter compared to the previous quarter is mainly to:-
1- The tissue of the previous quarter on the net gains resulting from the cancellation of contracts at a value of 19.6 million riyals in exchange for gains during the current quarter at the amount of 389 thousand riyals.
2- Registering unrealized losses from investments at a fair value through profit or loss in the amount of 3.3 million riyals during the current profit compared to registering unreasonable gains in the amount of 1.9 million riyals during the previous quarter.
This was an improvement in the overall profit during the current quarter by 103% compared to the previous quarter, and the total profit during the current quarter amounted to 17.4 million riyals compared to 8.6 million riyals during the previous quarter.
The reason for the increase in net profit during the first half, compared to the similar period of the previous year mainly to:
1- Increasing the operating profit by 173%, and the operating profit reached 27.2 million riyals during the current period compared to a 9.9 million riyals operating profit during the similar period in the previous year and mainly returning to the inclusion of the current period on the net gains resulting from the cancellation of contracts of 20 million riyals in addition to the inclusion of the same period on a decrease in the value of financial assets in the amount of 3 million riyals.
2- The decrease in financing costs by 9 %, and the financing costs during the current period amounted to 10.5 million riyals compared to 11.5 million riyals during the same period in the previous year.
This came despite the registration of unrealized losses from investments at a fair value through profit or loss in the amount of 1.3 million riyals during the current period compared to registering unreasonable gains in the amount of 5.2 million riyals during the same period of the previous year.