Abu Dhabi's Bayanat AI 9-month profit falls 26.65% to Dh107.76m
Revenue rose 4.23% to Dh511.31 million during the first nine months of 2023
Image Credit: WAM
Abu Dhabi: Abu Dhabi-listed Bayanat AI’s profit fell 26.65 per cent to Dh107.76 million for the first nine months of 2023. However, revenue during the period rose 4.2 per cent to Dh511.31 million at the AI-powered geospatial solutions provider.
At the end of the period, while total assets stood at Dh1.503 billion, compared to Dh1.491 billion as of 2022-end, total liabilities fell to Dh313.51 million as on September 30, 2023, from Dh409.88 million as of December 31, 2022.
For the three months through September 2023, net profit fell 14.82 per cent year-on-year to Dh33.78 million. Revenue rose 8.11 per cent to Dh279.75 million over the same period.